India’s Space Economy Poised to Reach USD 45 Billion in Next Decade: Dr. Jitendra Singh
15 June 2026: Union Minister of State (Independent Charge) for Science & Technology and Earth Sciences and Minister of State in Prime Minister’s Office, Department of Atomic Energy, Department of Space, Personnel, Public Grievances and Pensions, Dr. Jitendra Singh, said India’s space economy is poised to grow from the current USD 8-9 billion to nearly USD 40-45 billion over the next decade, driven by policy reforms, growing private participation and a rapidly expanding innovation ecosystem.
Addressing a press conference here, Dr. Jitendra Singh said the transformation of India’s space sector reflects a larger change taking place across the country, where science and technology have moved beyond laboratories to become part of the national consciousness. He said one of the most significant achievements of recent years has been the growing connect between science and society, with citizens increasingly seeing themselves as stakeholders in India’s scientific progress.
The Minister said the growing prominence of science and technology in public discourse reflects the vision of Prime Minister Narendra Modi, who has consistently brought science-driven initiatives into the national mainstream through his Independence Day addresses. He said programmes such as Swachh Bharat, Digital India, Digital Health, Deep Ocean Mission and Gaganyaan have helped position science and innovation at the centre of India’s development journey.
According to Dr. Jitendra Singh, the increasing presence of mainstream media at science and technology events itself reflects the growing public interest in scientific developments. He said missions such as Chandrayaan-3 have transformed space science into a subject of widespread public interest, creating unprecedented awareness and engagement among citizens across the country.
The Minister said India’s growing capabilities in frontier sectors such as space, atomic energy and advanced technologies have strengthened the country’s global standing. He said the confidence generated by these achievements has enhanced the credibility of indigenous technologies and reinforced India’s position as a trusted technology partner.
Referring to the impact of reforms in the space sector, the Minister said India, which had only a handful of space startups a few years ago, today has more than 400 space startups contributing to a vibrant and rapidly expanding ecosystem. He said the scale of growth achieved in a relatively short period demonstrates the enormous potential of India’s space economy.
Dr. Jitendra Singh said India’s achievements in missions such as Chandrayaan-3 and the upcoming Gaganyaan programme have established the country among the world’s leading space-faring nations. He said India has consistently demonstrated its ability to execute complex missions with efficiency, innovation and cost-effectiveness.
The Minister said one of India’s unique strengths lies in the extensive use of space technology for governance and development. He said the country has successfully integrated space-based applications into infrastructure planning, project monitoring and public service delivery on a scale rarely seen elsewhere.
The Minister was speaking to the media during the RISE Conclave 2026, organised under the theme “Innovation & Entrepreneurship Driven Growth for Viksit Bharat 2047.” The conclave brought together researchers, startups, industry leaders, investors and policymakers. More than 125 startups and technology innovators participated in the event, showcasing solutions across aerospace technologies, artificial intelligence, deep-tech and agri-food innovation, while discussions focused on strengthening research-industry partnerships.
