India’s space sector is rapidly transforming into a powerful engine of economic growth and innovation. With policy reforms unlocking private participation and entrepreneurship, the country’s space economy has expanded to $8.4 billion, supported by a thriving ecosystem of nearly 400 start-ups, Union Minister of State (Independent Charge) for Science & Technology and Space, Dr. Jitendra Singh, informed the Rajya Sabha.
Space Sector Reforms Fuel Industry Expansion
Responding to a starred question in Parliament, Dr. Jitendra Singh said that the sharp growth in the sector is a direct outcome of key reforms introduced after 2019, when the space domain was formally opened to private players. A landmark institutional step was the creation of the Indian National Space Promotion and Authorisation Centre (IN-SPACe), designed to function as a single-window interface between private companies and government bodies such as ISRO.
He noted that while India has always possessed strong scientific and technological capabilities within ISRO, the lack of a supportive ecosystem earlier restricted large-scale industrial participation. The new policy framework has now enabled greater investment, collaboration, and entrepreneurship.
Nearly 400 Start-ups Across the Space Value Chain
The Minister highlighted that the number of space start-ups has surged from single digits to 399 active companies today. These enterprises are engaged across diverse segments including:
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Launch vehicle development
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Satellite manufacturing
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Propulsion systems
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Space-grade electronics
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Downstream applications and services
This growing ecosystem signals India’s transition from a government-dominated model to a vibrant public-private space economy.
Industry Partnerships and Technology Transfer
Private sector involvement is also deepening through strategic collaborations. Dr. Jitendra Singh pointed out that Hindustan Aeronautics Limited (HAL) has signed a technology transfer agreement with ISRO for the Small Satellite Launch Vehicle (SSLV). Several Indian firms are now working on advanced platforms, launch systems, and innovative space technologies, strengthening domestic manufacturing and capabilities.
Rising Global Footprint and Foreign Revenue
India’s commercial space activities are also gaining international traction. ISRO has launched 434 foreign satellites, of which 399 were launched after 2014, underscoring the acceleration in global engagement over the past decade. These launches have generated revenues of approximately €323 million and $233 million, reinforcing India’s growing reputation in the global launch services market.
Conclusion
With strong policy support, rising private investment, and expanding global presence, India’s space sector is emerging as a key pillar of future economic growth. Dr. Jitendra Singh emphasized that the industry, once marginal in economic contribution, is now evolving into a significant domain of manufacturing, innovation, and entrepreneurship, with the potential to grow to $40–45 billion over the next 8–10 years.
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Source: PIB
