India’s space economy to cross $40 billion in 7- 8 years: Jitendra Singh

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. The priority now, he said, is to convert these capabilities into commercially viable businesses with the scale to compete internationally. The Minister also stressed the need for timely regulatory approvals, lower business costs and stronger supply-chain integration. He said that India must now move beyond demonstrating its technological capabilities to building globally competitive commercial space companies.
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. He said greater investment can support technology development, manufacturing and access to international markets, while domestic capabilities remain important for national security and strategic autonomy. Dr Singh said the opening of the space sector to private participation reflects the value of enabling new players to contribute alongside established public institutions.