India space economy to hit USD 40-45 billion in 7-8 years: Jitendra Singh
Why in the news
On 17 October 2026, Union Minister Dr Jitendra Singh said India’s space economy, now worth about USD 9 billion, could grow to USD 40-45 billion within the next seven to eight years.
Key facts
- Current size: about USD 9 billion.
- Projection: USD 40-45 billion in 7-8 years.
- Event: media roundtable on “Space, Sovereignty and New Economy”, organised by the Bloomberg New Economy Forum in New Delhi.
- Reform: the sector was opened to private players in 2019-20, which the minister said showed strong results in five to six years.
- Panelists: Vinod Kumar, Director (Promotion), IN-SPACe; Aisha Bowe, former NASA engineer and Blue Origin astronaut.
- Industry needs: predictable demand, time-bound installation and export licences, lower costs, supply-chain integration and more investment.
- Uses: satellite communication, Earth observation, geotagging of works, agriculture, disaster management and defence; disaster support also went to Myanmar, Bangladesh and Sri Lanka.
| Indicator | Value |
|---|---|
| Space economy now | About USD 9 billion |
| Target in 7-8 years | USD 40-45 billion |
About IN-SPACe
The Indian National Space Promotion and Authorisation Centre was formed on 24 June 2020 as a single-window autonomous agency under the Department of Space. Headquartered in Ahmedabad, it promotes, authorises and supervises non-government space activities and links private firms with ISRO.
Exam angle
- Remember the USD 9 billion and USD 40-45 billion figures.
- Jitendra Singh is MoS (Independent Charge) for Science and Technology and Earth Sciences, and MoS for Space and Atomic Energy.
- IN-SPACe: 2020, Ahmedabad, Department of Space.