**Executive Summary**
The Indian space economy has grown to an estimated $8.4 billion with nearly 400 active start-ups after policy changes in 2019 opened the sector to private participation. This was announced by Union Minister of State Dr. Jitendra Singh in a reply to the Rajya Sabha on Wednesday, January 29, 2026. The sector is expected to grow four to five times over the next eight to ten years, reaching $40-45 billion.
**Key Points / Main Content**
* **Sector Growth and Value:**
* India's space economy is currently valued at $8.4 billion.
* 399 start-ups are now operating across launch vehicles, satellites, propulsion systems, and space-grade electronics.
* The sector is projected to grow to $40-45 billion in the next 8-10 years.
* **Policy Changes and Private Participation:**
* Key policy decisions after 2019 opened the space sector to private participation.
* The Indian National Space Promotion and Authorisation Centre (IN-SPACe) was established as a single-window interface between private industry and government agencies, including ISRO.
* Reforms have created conditions for private investment and entrepreneurship.
* Private entities are now engaged across multiple segments of the space value chain.
* **Revenue Generation:**
* Of the 434 foreign satellites launched by ISRO, 399 were launched after 2014.
* These launches have generated revenues of approximately €323 million and $233 million.
* **Technology Transfer:**
* Hindustan Aeronautics Limited has signed a technology transfer agreement with ISRO for the Small Satellite Launch Vehicle.
**Impact Analysis**
**Private Industry**
*Impact*
The private sector is now able to participate in the space sector through streamlined approvals and increased investment opportunities, leading to growth, innovation, and entrepreneurship.
*Action Required*
Private companies should engage with IN-SPACe to explore collaboration opportunities and navigate regulatory processes.
**ISRO**
*Impact*
ISRO is now positioned to focus on core research and development activities while leveraging private sector capabilities.
*Action Required*
Continue technology transfer initiatives to support the growth of private space companies and expand the overall space ecosystem.
**Government Agencies**
*Impact*
Government Agencies are now positioned to benefit from the expertise and agility of private companies, fostering greater collaboration and efficiency.
*Action Required*
Engage with IN-SPACe and foster a collaborative environment for the public and private sectors.
Key Entities Referenced
Indian Space Research Organisation: Government space agency actively involved in the opening up of the space sector to private participation.
Dr. Jitendra Singh: Union Minister of State for Science and Technology and Space, commenting on the expansion of the space sector.
Indian National Space Promotion and Authorisation Centre (IN-SPACe): Single-window interface between private industry and government agencies in the space sector.
Department of Space: The government department overseeing space activities and policy.
Department of Space
India’s space economy at $8.4 billion, nearly 400
start-ups active after sector opened to private
players: Dr. Jitendra Singh
प्रव तथ: 29 JAN 2026 7:31PM by PIB Delhi
India’s space economy has grown to an estimated $8.4 billion, with 399 start-ups now operating across
launch vehicles, satellites, propulsion systems and space-grade electronics, Union Minister of State
(Independent Charge) for Science and Technology and Space, Dr. Jitendra Singh, said while replying to a
starred question in the Rajya Sabha on Wednesday.
Dr. Jitendra 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, he said, 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.
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.
The Minister also highlighted the revenue generated through the launch of foreign satellites. 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.Concluding his reply, Dr. Jitendra Singh said space is expected to become an important contributor to
India’s future economic growth. With private investment gaining momentum and institutional mechanisms
now in place, he said the sector has moved into areas that were previously under-explored and is emerging
as a significant domain of manufacturing, innovation and entrepreneurship.
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