NewzVille Desk
While replying to a starred question in the Rajya Sabha on Wednesday, Minister of Science and Technology, Dr. Jitendra Singh, said India’s space economy has grown to an estimated $8.4 billion, with 399 start-ups operating across launch vehicles, satellites, propulsion systems and space-grade electronics.
Dr. Singh told the House that the expansion followed key policy decisions taken after 2019 to open the space sector to private participation.
A major institutional change was the establishment of the Indian National Space Promotion and Authorisation Centre (IN-SPACe), which functions as a single-window interface between private industry and government agencies, including the Indian Space Research Organisation, he added.
While India had never lacked scientific capability or commitment within ISRO, the Minister said, the absence of an enabling ecosystem had earlier limited wider industrial participation. The reforms created conditions for private investment and entrepreneurship in a sector that had remained largely government-driven for decades.
As a result, the number of space start-ups has increased sharply from single-digit levels to 399 at present. Dr. Jitendra Singh said the space sector, which was once marginal in economic terms, is now valued at about $8.4 billion and is expected to grow four to five times over the next eight to ten years, potentially reaching $40–45 billion.
He informed the House that private entities are now engaged across multiple segments of the space value chain. Hindustan Aeronautics Limited has signed a technology transfer agreement with ISRO for the Small Satellite Launch Vehicle, while a range of Indian companies are working on satellite platforms, launch systems, propulsion technologies and related applications.
Dr. Jitendra Singh named several firms to illustrate the breadth of private sector participation that has emerged since the sector was opened.
Of the 434 foreign satellites launched by ISRO so far, 399 were launched after 2014, these launches have earned India revenues of about €323 million and $233 million, reflecting the country’s growing presence in the global space launch market, the Minister informed.
