India’s space economy is projected to grow to USD 40–45 billion over the next decade, supported by over 400 space startups. India’s Space Economy Set for Strong Growth.
NEW DELHI (India CSR): India’s science and technology sector, led by the national space programme and supported by over 400 space startups, is projected to expand from USD 8–9 billion to nearly USD 40–45 billion, or about Rs. 3.78 lakh crore, over the next decade. This reflects an estimated five-fold growth, or around 400% increase, Union Minister Jitendra Singh said in Delhi on June 14, 2026, during the RISE Conclave 2026.
Singh, Union Minister of State (Independent Charge) for Science and Technology and Earth Sciences, said the growth would be driven by policy reforms, private participation and a widening innovation ecosystem. The conclave was organised under the theme “Innovation & Entrepreneurship Driven Growth for Viksit Bharat 2047.”
Science And Society
The Minister said India’s scientific progress is now more visible in public life. He said citizens increasingly see themselves as stakeholders in the country’s progress in science, startups and space technology.
“The biggest achievement is that the common citizen today feels connected to India’s scientific progress and sees a stake in it,” Jitendra Singh said.
Startups And Space Reforms
Singh said India had only a few space startups some years ago. The number has now crossed 400. He said this growth reflects the impact of reforms in the space sector and the role of private innovation in national development.
He said missions such as Chandrayaan-3 and the upcoming Gaganyaan programme have strengthened India’s position among major space-faring nations. He also referred to India’s record in complex missions, including Chandrayaan and the Mars mission.
Technology For Governance
The Minister said India is using space technology for governance, infrastructure planning and public service delivery. He cited PM Gati Shakti, urban development programmes and drone-enabled monitoring as examples of how space-based applications are supporting project planning, implementation and monitoring.
He said these applications are improving transparency and efficiency in development projects.
Mission Learning
Singh said every major space programme involves continuous learning. He said temporary setbacks should be viewed in the larger context of scientific progress.
The Minister said the analysis of a recent PSLV mission anomaly had been completed. The underlying causes have been identified, and corrective measures have been initiated.
Innovation For Viksit Bharat
The RISE Conclave 2026 brought together researchers, startups, industry leaders, investors and policymakers. More than 125 startups and technology innovators participated. They showcased solutions across aerospace technologies, artificial intelligence, deep-tech and agri-food innovation.
The discussions focused on research-industry partnerships and innovation-led growth. The Ministry said the growing participation of startups, industry and research institutions is creating an innovation ecosystem linked to the vision of Viksit Bharat 2047.
| Key Fact | Details |
|---|---|
| Announcement | India’s space economy may touch USD 40–45 billion |
| Rupee Value | About ₹3.78 lakh crore |
| Current Size | USD 8–9 billion |
| Growth Estimate | Nearly 5 times growth; around 400% increase |
| Timeline | Next 10 years |
| Minister | Jitendra Singh |
| Ministry | Science & Technology, Earth Sciences, PMO, Atomic Energy, Space |
| Event | RISE Conclave 2026 |
| Date | June 14, 2026 |
| Place | New Delhi |
| Startup Base | Over 400 space startups |
| Key Drivers | Policy reforms, private participation, innovation ecosystem |
| Major Missions | Chandrayaan-3, Gaganyaan, Mars Mission |
| Governance Use | PM Gati Shakti, urban development, drone monitoring |
| Public Relevance | Space technology supports planning, monitoring and service delivery |
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