**Summary:**
In 2020, the Government of India initiated space sector reforms to liberalize the industry and encourage private sector participation. The Indian National Space Promotion and Authorization Centre (IN-SPACe) was established as an autonomous nodal agency under the Department of Space (DoS) to facilitate this participation. IN-SPACe, in collaboration with ISRO, Non-Government Entities (NGEs), and a consulting firm, developed the "Decadal Vision and Strategy for the Development of the Indian Space Economy," a strategic document outlining a roadmap for the next decade.
The roadmap aims to leverage space technology for economic growth, innovation, and global competitiveness through initiatives focused on demand generation, capacity building, industrial ecosystem creation, cross-sectoral R&D collaborations, access to finance, talent creation, and international outreach.
Key initiatives undertaken by IN-SPACe include:
* Providing a regulatory and policy framework for the Indian space sector.
* Facilitating and authorizing space activities for NGEs.
* Promoting technology transfer to NGEs.
* Enabling access to critical infrastructure and technical facilities.
* Public-Private Partnerships (PPP) for Earth Observation.
* Supporting manufacturing development and the creation of manufacturing clusters.
* Technology Transfer of the Small Satellite Launch Vehicle (SSLV) to industry.
* Financial support schemes for space startups and MSEs.
* Establishing a Space Sector focused ₹1000 Cr Antariksh Venture Capital Fund.
* Skill development and space courses for talent pool creation.
* Ensuring access to orbital resources and defining space standards.
* Demand generation campaigns for the adoption of space applications.
* Investor awareness campaigns.
* International outreach and space diplomacy.
The initiatives are designed to achieve a target of $44 billion by 2033. The government emphasizes positioning the space sector as an enabler across sectors, including agriculture, disaster management, urban development, logistics, climate action, defense, and digital services. Cross-sector innovation, particularly convergence with AI, quantum computing, biotech, and green energy, is promoted to distribute gains. Furthermore, a balanced innovation portfolio, encompassing sectors like semiconductors, electric mobility, and fintech, alongside space is encouraged to enhance economic resilience.
Policy and investment guardrails are being established to ensure balanced fiscal and policy priorities, incentivizing space while emphasizing other sectors like manufacturing, MSMEs, and green energy. Public-private investment strategies aim to avoid overconcentration of capital in any single sector.
The information was provided by Dr. Jitendra Singh, Union Minister of State (Independent Charge) for Science & Technology, Minister of State (Independent Charge) for Earth Sciences, MoS PMO, Department of Atomic Energy and Department of Space, MoS Personnel, Public Grievances and Pensions.
Key Entities Referenced
Indian National Space Promotion and Authorization Centre INSPACe: Autonomous, single-window, independent nodal agency in Department of Space DoS, to facilitate and promote the participation of private playersNonGovernment Entities NGEs across the entire spectrum of space activities.
ISRO: Indian Space Research Organisation collaborated with INSPACe for a market study.
Decadal Vision and Strategy for the Development of the Indian Space Economy: A strategic document crafted to steer India's space industry and economic prospects in the next decade.
Small Satellite Launch Vehicle SSLV: Transfer of Technology ToT to Industry is planned for SSLV.
Antariksh Venture Capital Fund: A Space Sector focused 1000 Cr Venture Capital Fund.
Rajya Sabha: The upper house of the Indian Parliament where the information was provided in a written reply.
Dr. Jitendra Singh: Union Minister of State Independent Charge for Science Technology, Minister of State Independent Charge for Earth Sciences, MoS PMO, Department of Atomic Energy and Department of Space, MoS Personnel, Public Grievances and Pensions.
Delhi: Location where the information was posted by PIB.
Department of Space
PARLIAMENT QUESTION: STRATEGIES TO
EXPAND INDIA’S SHARE IN THE GLOBAL SPACE
ECONOMY
Posted On: 24 JUL 2025 3:31PM by PIB Delhi
With the landmark space reforms in 2020, The Government of India has liberalized the Indian space
sector and constituted, Indian National Space Promotion and Authorization Centre (IN-SPACe), an
autonomous, single-window, independent nodal agency in Department of Space (DoS), to facilitate
and promote the participation of private players/Non-Government Entities (NGEs) across the entire
spectrum of space activities.
IN-SPACe carried out a market study in collaboration with ISRO, NGEs and a leading consulting firm which
resulted in development of a report titled ‘Decadal Vision and Strategy for the Development of the Indian
Space Economy’ a strategic document crafted to steer India's space industry and economic prospects in the
next decade.
The decadal vision report outlines a roadmap aimed at fully realizing the potential of space technology to
drive economic growth, foster innovation, and enhance global competitiveness. The envisaged growth will be
realized, through focused strategic & enabling initiatives aimed at Demand generation, Capacity & Capability
building, creating industrial ecosystem, Cross sectoral collaborations for R&D, enabling access to finance,
talent creation & international outreach.
IN-SPACe has undertaken/enabled following strategic initiatives/actions (not limited to), which will converge
towards achieving the decadal vision targets of $44 billion by 2033:
Providing Regulatory and Policy Framework for Indian Space Sector
(cid:108)
Facilitation & Authorization of Space Activities & Ease of Doing Business for Non-Governmental
(cid:108)
Entities (NGEs)
Promoting & Enabling Transfer of Technology (ToT) to NGEs
(cid:108)
Enabling Access to Critical Infrastructure & Technical Facilities
(cid:108)
Public-Private Partnerships (PPP) for Earth Observation
(cid:108)
Impetus to Manufacturing & Development of Manufacturing Clusters in States
(cid:108)
ToT of Small Satellite Launch Vehicle (SSLV) to Industry
(cid:108)
Financial Support Schemes for Space Startups and MSEs
(cid:108)
Setting up of a Space Sector focused ₹1000 Cr Antariksh Venture Capital Fund
(cid:108)
Skill Development & Space Courses for Talent pool creation
(cid:108)
Access to Orbital Resources & Space Standards
(cid:108)
Demand Generation Campaign for Adoption of Space Applications
(cid:108)
Access to Finance & Investor Awareness Campaigns
(cid:108)
International outreach and Space Diplomacy
(cid:108)
These initiatives are strategically planned, regularly monitored, & periodically assessed, aligning with the
current growth trajectory and evolving global market trends.
Indian space sector is poised to play a transformative role in the country’s technological and economic growth
story, it must be positioned as a strategic enabler, not the sole engine of economic expansion. Space sector
should be seen as a catalyst for broader sectoral development, not as a standalone pillar. For Balancing rapid
expansion without getting over-reliant on Space sector or technologies, it is imperative to:1. Position Space as an Enabler Across Sectors, it should be deeply integrated with agriculture, disaster
management, urban development, logistics, climate action, defence, and digital services, which will
distribute the risk of economic over-reliance.
2. Promote Cross-Sector Innovation & space-tech convergence with fields like AI, quantum computing,
biotech, and green energy will ensure the gains are distributed and mutually reinforcing.
3. Promote a Balanced Innovation Portfolio with focus on nurturing a diverse technology ecosystem-
supporting other high-growth sectors (semiconductors, electric mobility, fintech, etc.) alongside space,
to ensure economic resilience even if space sector faces global market fluctuations.
4. Build Policy and Investment Guardrails, to ensure that fiscal and policy priorities remain balanced.
While incentivizing space, equal emphasis should be placed on other sectors like- manufacturing,
MSMEs, and green energy. Public-private investment strategies should avoid overconcentration of
capital in any one sector.
India should use space to enable Socio-economic impact more distributed and inclusive, through a diversified
innovation-led growth model, where space acts as an integrator and enabler. It will help to ensure that India’s
economic trajectory remains balanced, resilient, and inclusive without risking over-reliance on any key sector
or technologies.
This information was given by Dr. Jitendra Singh, Union Minister of State (Independent Charge) for Science
& Technology, Minister of State (Independent Charge) for Earth Sciences, MoS PMO, Department of Atomic
Energy and Department of Space, MoS Personnel, Public Grievances and Pensions, in a written reply in the
Rajya Sabha today.
*****
NKR/PSM/AV
(Release ID: 2147733)