Space Economy Projected To Reach $40–45 Billion In 7 To 8 Years

Minister of State for Atomic Energy and Space Dr Jitendra Singh has said that India’s Space economy, currently valued at around 9 billion, is expected to reach 40 to 45 billion dollars over the next seven to eight years. He said this during a media Roundtable on Space, Sovereignty and New Economy organised by Bloomberg New Economy Forum in New Delhi. He stressed that greater domestic and international investment, faster regulatory approvals and sustainable business models would be essential to scaling up Indian enterprises and expanding their presence in global markets.

The minister said the opening of India’s Space sector had produced significant results within just five to six years. He said that India’s experience demonstrates the potential of bringing government institutions and private industry together in a sector that requires substantial technological expertise, investment and long-term commitment.

Dr Jitendra Singh stressed that generating demand is essential for the growth of private space companies. On investment and international cooperation, the Minister said, India is opening up opportunities for capital and partnerships while continuing to strengthen indigenous capabilities. (UPDATED ON 17TH OCTBER 2026)