India’s space economy set to reach $45 billion by the next decade: Dr. Jitendra Singh

By R Anil Kumar

Bengaluru, June 13, 2026. India’s space economy is expected to witness a five-fold rise over the next decade, growing from the current USD 8-9 billion to nearly USD 40-45 billion, union Minister of State (Independent Charge) for Science and Technology Dr. Jitendra Singh said on Saturday, June 13, highlighting the rapid rise of private participation and startups in the country’s space sector.

Addressing a media interaction after inaugurating RISE Conclave- 2026 here in Bengaluru, Jitendra Singh said the opening up of the space sector to private players has fundamentally transformed India’s space landscape, turning it into a key pillar of the country’s future economic growth.

“Five years ago, after what was described as the unlocking of the space sector, India had only a single-digit number of space startups. Today, we have more than 400 space startups. Our space economy stands at around USD 8-9 billion, and the scale of ascent is so high that we hope to reach USD 40-45 billion in the next eight to ten years,” he said.

The minister said the space economy, which once occupied a limited role in the national development framework, is now emerging as a major growth engine with the potential to contribute significantly to innovation, manufacturing, employment and exports.

“Space economy is going to be an important component of India’s overall economy. It was not so 10 or 15 years ago. Today, space has become a huge stakeholder in India’s future growth story,” Singh said.

He credited Prime Minister Narendra Modi for giving unprecedented prominence to science, innovation and technology, and said government reforms had created an enabling environment for entrepreneurs and investors.

According to Singh, India’s scientific achievements have also succeeded in bringing science closer to ordinary citizens, creating public enthusiasm around technological progress and national missions.

“The biggest achievement is that we have connected the common citizen to India’s scientific journey and made him realise that he has a stake in India’s scientific progress,” he said.

The minister noted that missions such as Chandrayaan-3 had captured the imagination of the public and significantly enhanced India’s global reputation as a spacefaring nation.

He said India had demonstrated that it was capable of executing complex missions at a fraction of global costs while maintaining a strong success record.

Responding to concerns over recent launch setbacks and delays, Singh rejected suggestions that they could undermine confidence in the sector.

“There is no such thing as failure in a space mission. There may be delays or setbacks, but these are learning experiences. If every partially successful attempt is termed a failure, India’s statistical record is still better than many advanced spacefaring nations,” he said.

The minister emphasised that investor confidence remains strong despite recent challenges. Referring to concerns raised in Parliament over whether setbacks could discourage private investment, he said industry participation has remained robust.

“I had clarified that investor interest has not diminished. Out of the launches planned this year, a large number involve private-sector participation. Those who work in the sector understand that setbacks are part of the game and do not lose confidence because of them,” he said.

Singh further highlighted how India has gone beyond conventional space exploration by integrating space technology into governance and development programmes.

He cited initiatives such as Gati Shakti, urban infrastructure planning and various geospatial applications as examples of how space-based technologies are being used to improve project execution, planning and public service delivery.

On research and development spending, Singh acknowledged that India must increase investments to match global innovation leaders, but stressed that private-sector participation would be critical in achieving that goal.

He said government funding for science and technology sectors, including space, biotechnology and scientific research institutions, had increased substantially over the last decade, while reforms were also encouraging greater private and foreign investment.

“We do not lack talent. Indians are leading some of the world’s biggest technology companies. The challenge is creating greater investment opportunities and funding mechanisms within the country. That process has now begun and is accelerating,” he said.

The minister pointed to liberalised foreign direct investment norms in the space sector and growing interest from international investors as evidence of increasing confidence in India’s technology ecosystem.

Reaffirming the government’s long-term vision, Singh said India remains committed to establishing the Bharat Space Station by 2035 and landing an Indian astronaut on the Moon by 2040.

As India expands its footprint in commercial space activities and deep-tech innovation, Singh said the country is steadily positioning itself among the leading global space powers while creating new opportunities for startups, industry and scientific research.

India developing technology to keep lunar landers alive for up to 200 days: ISRO chief

Earlier, Addressing, the RISE Conclave, ISRO Chairman Dr. V Narayan said India is developing technology that could allow future lunar landers to survive on the Moon for up to 200 days, marking a major leap from the 14-day operational lifespan of the Chandrayaan-3 lander and potentially transforming the country’s ambitions for long-duration lunar exploration. Revealing the plan on Saturday,June 13, ISRO Chairman and Secretary, Department of Space, V Narayanan said the Indian Space Research Organisation (ISRO) has launched a collaborative effort with the Department of Atomic Energy (DAE) to overcome one of the toughest challenges in Moon missions, surviving the harsh and prolonged lunar night.Addressing the sixth edition of the CSIR-RISE Conclave here, Narayanan said the success of Chandrayaan-3 highlighted both India’s technological capabilities and the challenges that remain in achieving sustained operations on the lunar surface. “On August 23, 2023, India became the first and only country to successfully land near the south pole of the Moon. But the Vikram lander’s life was only 14 days because it depended on sunlight to generate electricity. During the next 14 days of lunar night, the electronics could not survive due to the absence of power and extremely low temperatures,” he said.Narayanan said ISRO and DAE are now working on advanced artificial heating systems that can protect spacecraft systems during the freezing lunar night and significantly extend mission life. “We are going to develop artificial heaters. If we succeed, such landers can survive for 100 to 200 days instead of only 14 days,” he said.

The proposed technology could enable future Indian missions to conduct extended scientific experiments, gather larger volumes of data and strengthen prospects for sustained robotic and eventually human presence on the Moon. The ISRO chief said the initiative reflects a growing culture of collaboration among India’s scientific institutions. He disclosed that ISRO and the Council of Scientific and Industrial Research (CSIR) recently held extensive consultations and identified more than 40 areas of technological cooperation, with 17 projects already approved for implementation in the first phase.

The ISRO chief also highlighted partnerships across several ministries and scientific departments. Under the Gaganyaan programme, India’s first indigenous human spaceflight mission, ISRO has signed an agreement with the Department of Science and Technology-supported Sri Chitra Tirunal Institute for Medical Sciences and Technology to advance research in space medicine. Narayanan further said ISRO has entered into a collaboration with the Department of Biotechnology to undertake microgravity experiments following India’s participation in the Axiom mission to the International Space Station. Stressing the role of innovation in nation-building, he said India’s scientific ecosystem has expanded rapidly over the past decade, supported by a vibrant startup culture and stronger industry participation. “India today has one of the largest startup ecosystems in the world, with more than two lakh startups as of December 2025. Research, innovation, entrepreneurship and industry participation are essential for the country’s growth,” he said.

Narayanan noted that India’s space programme has so far completed about 105 launch vehicle missions and around 135 satellite missions, achievements made possible through contributions from multiple research institutions and laboratories across the country. Acknowledging CSIR’s role in India’s technological progress, he said several of its laboratories have supported critical space technologies ranging from materials and propulsion systems to specialised scientific research.

The ISRO chief also linked the latest lunar technology initiative to India’s long-term space vision outlined by Prime Minister Narendra Modi. He said India is working towards establishing its own space station and landing an Indian astronaut on the Moon by 2040, goals that will require sustained technological innovation and deeper collaboration across scientific disciplines. “India is moving towards the vision of Viksit Bharat 2047. No single institution can achieve such goals alone. It is through collective effort, scientific excellence and national commitment that we will take the country to greater heights,” Narayanan said.