Lift-off for growth: India’s space economy set to soar to $44–45 billion in a decade, says Jitendra Singh

Updated: November 19, 2025 02:31

Image Source: Bhaskar Live

India’s space sector, valued around $8 billion today, is projected to scale fivefold to $44–45 billion within the next ten years. Minister Jitendra Singh highlighted space reforms, private participation, and policy momentum as catalysts, positioning space as a significant contributor to national economic growth and global competitiveness.

India International Space Conclave signals scale and speed

At the India International Space Conclave (IISC) 2025 in New Delhi, Minister of State (Independent Charge) for Science & Technology Jitendra Singh said space reforms since 2023 transformed a dispersed ecosystem into an economic engine. He projected the sector to reach $44–45 billion in the next decade from $8 billion today.

Key highlights

Fivefold growth projection:

India’s space economy seen rising from roughly $8 billion to $44–45 billion over ten years, driven by reforms, innovation, and private sector momentum.

Policy as a turning point:

The Indian Space Policy 2023 and recent reforms unlocked industry participation, clearer governance, and commercialization pathways across satellites, launch services, and downstream applications.

Institutional collaboration:

IISC is co-hosted by ISpA with ISRO and IN-SPACe, reflecting coordinated industry–government efforts to accelerate capacity, investment, and exports.

Pipeline of launches:

Singh signaled numerous rocket and multi-sensor satellite missions in the coming year, underscoring operational tempo and ecosystem dynamism.

Global positioning:

Calls for India to play a larger role in the global space economy, leveraging cost-effective launches, data services, and resilient supply chains.

Why space will matter more in India’s GDP story

A bigger space sector extends beyond rockets: it fuels downstream applications in communications, Earth observation, navigation, agri-tech, disaster management, and logistics. With private capital flowing and clearer policy, multiplier effects can enhance productivity across industries, while exports of services and hardware help India capture higher shares of global demand.

What to watch next

Private participation and capital: Track new startups, manufacturing clusters, and venture funding tied to launchers, satellites, and analytics platforms.

Export growth and standards: Watch India’s push for international certifications and contracts in launch services and EO data.

Regulatory enablers: Implementation of space guidelines, licensing, and spectrum/telemetry frameworks that reduce friction and encourage scale.

Mission cadence: Follow upcoming multi-sensor satellite and launch schedules as leading indicators of sector health.

Sources: Republic World, ETTeleco, Financial Express

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