India’s space economy set to exceed US$40 billion within decade

India’s space sector is on track to become one of the country’s most dynamic high-technology industries, with its value expected to increase from approximately US$8–9 billion today to as much as US$40–45 billion over the next ten years, as reported by IANS, a TV BRICS partner.

Indian Minister of State for Science and Technology and the Department of Space Jitendra Singh said the rapid development of the sector demonstrates how science and innovation have become central pillars of India’s economic and technological progress.

According to the minister, scientific advancement is increasingly influencing national development priorities, with technology-driven programmes helping to strengthen infrastructure, public services and digital transformation across the country.

India’s achievements in space exploration have also enhanced its international profile as a leading technology-driven nation. Recent missions have demonstrated the country’s capabilities in advanced engineering, scientific research and complex space operations, reinforcing confidence in domestically developed technologies.

Jitendra Singh also stated that the country’s space ecosystem has expanded significantly in recent years. From a relatively small number of specialised enterprises, the sector now includes more than 400 space-focused startups working across satellite technologies, launch systems, data applications and advanced aerospace solutions.

Space-based technologies are also becoming an important tool for national development. Satellite applications are being integrated into infrastructure planning, project monitoring, urban management and public service delivery, improving efficiency and supporting data-driven decision-making.

India has increasingly adopted advanced geospatial technologies, remote sensing capabilities and drone-based systems to support development initiatives, environmental monitoring and infrastructure projects.

As investment, technological capabilities and innovation capacity continue to expand, India is positioning itself as a major force in the global space sector, with the industry expected to play a key role in the country’s long-term economic and scientific development.