NEW DELHI: Union Minister of State (Independent Charge) for Science and Technology and Earth Sciences, Dr. Jitendra Singh, has said that India’s space economy is expected to witness massive growth over the next ten years, expanding from its current size of around USD 8-9 billion to nearly USD 40-45 billion. He attributed this projected rise to policy reforms, increasing participation from private players, and a rapidly growing innovation ecosystem.
Addressing a press conference during the RISE Conclave 2026, Dr. Singh highlighted the transformation of India’s space sector and its growing influence on the country’s economic and technological landscape. He noted that science and technology are no longer confined to research institutions and laboratories but have become integral to the lives of ordinary citizens.
According to the Dr. Singh, one of the most remarkable developments in recent years has been the growing connection between scientific progress and society. He said citizens now view themselves as active participants in India’s journey of innovation and technological advancement.
Dr. Singh credited Prime Minister Narendra Modi’s vision for bringing science and technology into the national mainstream. He pointed out that several initiatives frequently highlighted by the Prime Minister, including Swachh Bharat, Digital India, Digital Health, the Deep Ocean Mission, and the Gaganyaan programme, have strengthened the role of innovation in India’s development agenda.
He also observed that scientific achievements are receiving unprecedented public attention. The widespread interest generated by missions such as Chandrayaan-3 has transformed space exploration into a topic of national pride and public engagement. The increasing presence of mainstream media at scientific events, he said, reflects the growing enthusiasm among citizens for developments in science and technology.
Highlighting India’s advancements in strategic sectors, Dr. Singh said achievements in space, atomic energy, and other frontier technologies have significantly enhanced the country’s reputation on the global stage. These successes have boosted confidence in indigenous technologies and strengthened India’s position as a reliable technology partner for the world.
Dr. Singh emphasized that India’s technological capabilities are increasingly being recognized internationally. The acceptance of Indian innovations and products across global markets demonstrates the country’s growing expertise in emerging technologies that are shaping both economic and strategic outcomes.
Discussing reforms in the space sector, Dr. Singh said India has witnessed an extraordinary rise in entrepreneurial activity. From having only a handful of space startups a few years ago, the country now hosts more than 400 startups working in various segments of the space ecosystem. He described this growth as evidence of the enormous opportunities emerging in the sector following policy liberalization and private sector participation.
He further stated that landmark missions such as Chandrayaan-3 and the upcoming Gaganyaan human spaceflight programme have placed India among the world’s leading spacefaring nations. India has repeatedly demonstrated its ability to carry out complex missions with efficiency, innovation, and cost-effectiveness, earning international recognition.
A unique strength of India’s space programme, according to Dr. Singh, is its extensive application of space technology for governance and development. He explained that satellite-based technologies are being used for infrastructure planning, project monitoring, resource management, and public service delivery on a large scale.
Programmes such as PM Gati Shakti, urban development projects, and drone-enabled monitoring systems are helping improve transparency, planning, and implementation efficiency. These applications showcase how space technology can directly contribute to better governance and developmental outcomes.
The Minister also addressed challenges faced during space missions, emphasizing that every major space programme evolves through continuous learning and improvement. He said setbacks should be viewed as part of the scientific process and often contribute to stronger systems and enhanced preparedness for future missions.
Referring to the recent PSLV mission anomaly, Dr. Singh stated that a detailed analysis has already been completed and the root causes identified. Corrective actions have been initiated, and lessons learned from the incident will help strengthen future missions and improve mission reliability.
He noted that India’s overall performance in space exploration compares favorably with leading global space powers. Successful first-attempt achievements such as the Chandrayaan missions and the Mars Orbiter Mission demonstrate the country’s scientific capabilities and engineering excellence.
Dr. Singh concluded by saying that India’s scientific achievements are increasingly contributing to economic growth, technological self-reliance, and global competitiveness. The active involvement of startups, industries, research institutions, and investors is helping build a robust innovation ecosystem capable of supporting the vision of Viksit Bharat 2047.
The remarks were made during the RISE Conclave 2026, organized under the theme “Innovation & Entrepreneurship Driven Growth for Viksit Bharat 2047.” The event brought together researchers, policymakers, investors, startups, and industry leaders to promote collaboration and accelerate the conversion of scientific research into economic and social benefits. More than 125 startups and technology innovators showcased solutions in aerospace, artificial intelligence, deep-tech, and agri-food innovation.
The projected expansion of India’s space economy to USD 40-45 billion highlights the country’s growing role in the global space industry. Increased private sector participation, startup growth, and advanced space missions are expected to generate employment, attract investments, strengthen technological self-reliance, and enhance India’s global competitiveness. The integration of space technology into governance and development also demonstrates how scientific innovation can directly improve public services and accelerate the vision of Viksit Bharat 2047.
