India's space economy is expected to expand to nearly USD 45 billion in the next decade, driven by reforms, startups and innovation, says Jitendra Singh.
New Delhi, June 14: Union Minister of State (Independent Charge) for Science and Technology and Earth Sciences, Dr Jitendra Singh, on Saturday said India's space economy is projected to grow from the current USD 8-9 billion to nearly USD 40-45 billion over the next decade, supported by policy reforms, rising private sector participation and a rapidly expanding innovation ecosystem.
Addressing a press conference during the RISE Conclave 2026, Dr Singh said the growth of India's space sector reflects a broader transformation in the country, where science and technology have moved beyond research institutions to become an important part of national development and public life.
He said one of the most significant achievements in recent years has been the growing connection between science and society, with citizens increasingly viewing themselves as stakeholders in India's scientific progress.
"The biggest achievement is that the common citizen today feels connected to India's scientific progress and sees a stake in it," he said.
Dr Singh attributed the increasing prominence of science and technology in public discourse to the vision of Prime Minister Narendra Modi. He said science-driven initiatives have consistently been brought into the national mainstream through programmes such as Swachh Bharat, Digital India, Digital Health, Deep Ocean Mission and Gaganyaan.
According to the Minister, the growing presence of mainstream media at science and technology events reflects rising public interest in scientific developments. He said missions such as Chandrayaan-3 have helped transform space science into a subject of widespread public engagement across the country.
Highlighting India's progress in frontier technologies, Dr Singh said advancements in sectors such as space and atomic energy have strengthened the country's global standing. He added that these achievements have enhanced confidence in indigenous technologies and reinforced India's reputation as a reliable technology partner.
Referring to reforms in the space sector, the Minister said India had only a handful of space startups a few years ago but now has more than 400 startups contributing to a vibrant ecosystem. The rapid growth, he said, demonstrates the vast potential of India's space economy.
Dr Singh said successful missions such as Chandrayaan-3 and the upcoming Gaganyaan programme have established India among the world's leading space-faring nations. He noted that the country has consistently demonstrated its ability to undertake complex missions with innovation, efficiency and cost-effectiveness.
The Minister also highlighted India's extensive use of space technology for governance and development. He said space-based applications are being integrated into infrastructure planning, project monitoring and public service delivery on a scale rarely seen elsewhere.
Initiatives such as PM Gati Shakti, urban development projects and drone-enabled monitoring systems are helping improve planning, implementation and oversight of development programmes while enhancing transparency and efficiency, he said.
Dr Singh observed that every major space programme evolves through continuous learning and improvement. Challenges encountered during missions contribute to stronger systems, improved preparedness and more robust future missions, he added.
Referring to the recent PSLV mission anomaly, the Minister said the analysis had been completed and the causes identified. Corrective measures have already been initiated, and future missions will benefit from the lessons learned.
He said temporary setbacks should be viewed in the broader context of scientific advancement and technological evolution. India's overall performance, he added, compares favourably with leading space powers, citing the country's successful first-attempt achievements in the Chandrayaan and Mars missions.
Dr Singh said scientific achievements are increasingly contributing to economic growth, technological self-reliance and global competitiveness. The growing participation of startups, industry and research institutions is helping build a strong innovation ecosystem capable of advancing the vision of Viksit Bharat 2047.
The Minister was speaking during the RISE Conclave 2026, organised under the theme "Innovation & Entrepreneurship Driven Growth for Viksit Bharat 2047". The conclave brought together researchers, startups, industry leaders, investors and policymakers to strengthen collaboration across the innovation ecosystem and accelerate the translation of scientific research into economic and societal outcomes.
More than 125 startups and technology innovators participated in the event, showcasing solutions in aerospace technologies, artificial intelligence, deep-tech and agri-food innovation. Discussions focused on strengthening research-industry partnerships and promoting innovation-led growth.
