India’s space economy is expected to grow nearly five-fold to USD 40–45 billion over the next decade, driven by policy reforms, increasing private sector participation and a rapidly expanding startup ecosystem, Union Minister of State (Independent Charge) for Science and Technology Dr Jitendra Singh said on Sunday.
Addressing the media during the RISE Conclave 2026 in New Delhi, Dr Singh said India’s transformation in the space sector reflects a broader shift in which science and technology have become central to the country’s development agenda and increasingly connected with everyday citizens.
“The biggest achievement is that the common citizen today feels connected to India’s scientific progress and sees a stake in it,” the Minister said.
He noted that India’s space economy, currently estimated at around USD 8–9 billion, is poised for substantial growth as reforms continue to encourage innovation, entrepreneurship and private investment.
Highlighting the impact of space sector reforms, Dr Singh said India, which had only a handful of space startups a few years ago, now has more than 400 startups operating in the sector.
“The scale of growth achieved in a relatively short period demonstrates the enormous potential of India’s space economy,” he said.
The Minister credited Prime Minister Narendra Modi’s emphasis on science-driven development for bringing scientific innovation into mainstream public discourse. He said initiatives such as Digital India, Swachh Bharat Mission, Digital Health Mission, Deep Ocean Mission and Gaganyaan have helped place science and technology at the centre of India’s growth story.
Referring to landmark achievements such as Chandrayaan-3, Dr Singh said India’s successful space missions have generated unprecedented public interest in science and strengthened the country’s global standing as a leading space-faring nation.
“India has consistently demonstrated its ability to execute complex missions with efficiency, innovation and cost-effectiveness,” he said.
The Minister highlighted India’s unique use of space technology in governance and development, noting that satellite-based applications are being extensively used for infrastructure planning, monitoring and public service delivery.
He cited initiatives such as PM Gati Shakti, urban development programmes and drone-enabled monitoring systems as examples of how space technology is improving project implementation, transparency and efficiency.
“India is using space technology not only for exploration but also as a powerful tool for governance and infrastructure development,” he said.
Dr Singh said India’s growing capabilities in frontier sectors such as space, atomic energy and advanced technologies have enhanced the credibility of indigenous technologies and reinforced the country’s position as a trusted global technology partner.
He also stressed that challenges encountered during scientific missions contribute to stronger systems and improved preparedness for future projects.
Referring to the recent PSLV mission anomaly, the Minister said the analysis has been completed, the causes have been identified and corrective measures have already been initiated.
“Future missions will benefit from these learnings, further strengthening India’s space programme,” he said.
The Minister underscored that scientific achievements are increasingly contributing to economic growth, technological self-reliance and global competitiveness.
He said the participation of startups, industry and research institutions is helping create a robust innovation ecosystem capable of supporting the vision of Viksit Bharat 2047.
The RISE Conclave 2026, organised under the theme “Innovation and Entrepreneurship Driven Growth for Viksit Bharat 2047”, brought together researchers, entrepreneurs, investors, industry leaders and policymakers to strengthen collaboration across the innovation ecosystem.
More than 125 startups and technology innovators participated in the event, showcasing solutions in aerospace technologies, artificial intelligence, deep-tech and agri-food innovation. Discussions focused on promoting research-industry partnerships and accelerating the translation of scientific research into societal and economic outcomes.
