India's Space Economy Hits $9 Billion, Expected To Reach $45 Billion In Next Decade
· Free Press Journal
New Delhi, Aug 23: India’s space economy has reached $9 billion and is projected to reach $40–45 billion over the next decade, driven by a robust startup ecosystem and policy reforms, according to latest government data.
India’s space sector expands
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As India marked National Space Day on Sunday, the country’s space ecosystem has expanded rapidly, with registered space startups rising from 1 in 2014 to around 440 in 2026 (till August).
Private investment in India's space sector surged nearly six-fold, climbing from $100.5 million in 2021–22 to $618.5 million by March 31, 2026, with $187 million recorded during 2026 alone.
By mid-2026, 113 authorisations had been granted to 52 Non-Government Entities (NGEs), out of which 18 are startups for satellite operations, payload establishment and launch services, according to official data.
India’s Space Game Is Cooking!
— MyGovIndia (@mygovindia) August 23, 2026
A $9 billion space economy, ~440 startups, nearly 6X growth in private investment, 399 foreign satellites launched, 300+ global space partnerships and 4 homegrown launch vehicles show how far India has come. With Gaganyaan and the Bharatiya… pic.twitter.com/QwbYrSvKSp
Policy reforms boost participation
India opened its space sector to private participation in 2020, enabling industry and startups across satellites, launch systems and space applications.
This marked a major shift towards a broader national space ecosystem.
The Indian Space Policy 2023 further expanded private participation across the space value chain. It also defined the roles and responsibilities of NewSpace India Limited (NSIL) and Indian National Space Promotion and Authorisation Centre (IN-SPACe), said an official statement.
NSIL, the commercial arm of ISRO, provides launch, satellite and space-based services and transfers ISRO technologies to Indian industry.
Its revenue rose from Rs 321.77 crore in FY 2021–22 to over Rs 3,000 crore in FY 2024–25, reflecting the growing commercialisation of India’s space programme.
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IN-SPACe enables private space activities through a single-window mechanism. It facilitated 71 ISRO’s technology transfers to industry and start-ups as on January 31, 2026.
Moreover, foreign direct investment (FDI) rules in February 2024 were liberalised for the space sector. Up to 74 per cent FDI is permitted automatically for satellite manufacturing and operations, 49 per cent for launch vehicles and spaceports, and 100 per cent for satellite and ground-segment components.
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Targeted financing is strengthening India’s private space ecosystem. The IN-SPACe Seed Fund Scheme supports early-stage space start-ups, the Rs 1,000 crore Venture Capital Fund provides growth capital, and the Rs 500 crore Technology Adoption Fund enables wider deployment of space technologies.
Further, The Satellite Bus as a Service (SBaaS) Scheme has been allocated Rs 75 crore to support the development of satellite bus capabilities.
Launch missions progress
Over the last three years (July 2023 to June 2026), India successfully completed 12 launch vehicle missions, carrying 11 national satellites and nine satellites for international customers.
(Except for the headline, this article has not been edited by FPJ's editorial team and is auto-generated from an agency feed.)