India’s Space Economy

• Current Valuation: India’s space economy is worth around  $8 billion in 2025.
  • It is expected to reach $45 billion in the next 10 years.
• Global Share: It contributes 2% of the global space economy.
• Global Position: ISRO is the sixth-largest space agency in the world, recognised for cost-effective missions like Mangalyaan and Chandrayaan.
  • Since 1999, India has launched 381 satellites for 34 countries, generating $279 million in revenues.
• Government Spending: India invests around $2 billion annually in space programmes.
• Private Sector Involvement: India has witnessed rapid growth in space startups from just 1 in 2022 to nearly 200 in 2024.
  • ISRO is transferring satellite and launch vehicle technologies to private companies for faster commercialisation.
• Projected Growth: By 2033, the economy is expected to reach around $44billion (₹35,200 crore) with an 8% global share.
  • Domestic Market Potential: Projected to grow from $8.1 billion to $33 billion in a decade.
  • Export Market Potential: Expected to rise from $0.3 billion to $11 billion by 2033.
  • Expected Investments: Around $22 billion (₹17,600 crore) investment is anticipated over the next 10 years.

Initiatives to Promote Space Economy

• IN-SPACe (Indian National Space Promotion and Authorization Centre): Facilitates private participation, ensures policy support, and authorises non-government entities in space activities.
• NewSpace India Limited (NSIL): Commercial arm of ISRO, responsible for satellite launches, technology transfer, and global market expansion.
• Policy Framework: Indian Space Policy 2023: Clearly defines roles of ISRO, IN-SPACe, and private players; ISRO to focus on strategic missions and R&D, while private sector drives commercialisation.
• Education and Innovation: YUVIKA (Young Scientist Programme) and collaboration with IITs and IISc foster research, innovation, and training of future space scientists.