Union Minister Jitendra Singh has projected that India’s space economy will expand to nearly USD 45 billion over the next 7–8 years, underscoring the country’s rapid strides in the sector.
Speaking at a high-level event, Singh highlighted that India’s space industry is currently valued at around USD 8 billion, and is poised for exponential growth driven by private sector participation, innovation, and global collaborations.
The Minister emphasized that reforms introduced in recent years, including the creation of IN-SPACe and greater opportunities for startups, have unlocked new avenues for investment and commercialization.
He noted that India’s achievements in satellite launches, space exploration, and applications for agriculture, disaster management, and communication are laying the foundation for a robust space economy.
Singh added that the government’s vision is to position India as a leading global hub for affordable and reliable space solutions, aligning with the broader goal of Viksit Bharat 2047.
Industry experts believe that the projected growth will create new opportunities in satellite manufacturing, launch services, data analytics, and space-based applications across multiple sectors.
The announcement comes at a time when India is expanding international partnerships in space technology, with collaborations in semiconductors, AI, and advanced research complementing its space ambitions.
