India’s Space economy, currently valued at around USD 9 billion, is expected to reach USD 40–45 billion over the next seven to eight years, Union Minister of State (Independent Charge) for Science & Technology and Earth Sciences, and MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space, Dr. Jitendra Singh, said during a media Roundtable here on “Space, Sovereignty and New Economy”.
The Minister said India must now move beyond demonstrating its technological capabilities to building globally competitive commercial space companies. He stressed that greater domestic and international investment, predictable demand, faster regulatory approvals and sustainable business models would be essential to scaling up Indian enterprises and expanding their presence in global markets.
The Minister participated in the Roundtable organised by the ‘Bloomberg New Economy Forum’, being held in New Delhi. The discussion examined how countries can translate sovereign Space capabilities into commercially competitive industries, attract private capital and develop stronger supply chains while safeguarding national interests. Participants also discussed the evolving global space economy, the role of international partnerships and the challenges of scaling up private space enterprises.
Among the other prominent participants were Vinod Kumar, Director (Promotion), Indian National Space Promotion and Authorisation Centre (IN-SPACe); and Aisha Bowe, Founder and CEO of STEMBoard and LINGO, former NASA engineer and Blue Origin astronaut. The session brought together representatives from the Space industry, entrepreneurship, academia and the international space community.
The Minister said the opening of India’s Space sector to private participation in 2019–2020 under the leadership of Prime Minister Narendra Modi had produced significant results within just five to six years. India’s experience demonstrates the potential of bringing government institutions and private industry together in a sector that requires substantial technological expertise, investment and long-term commitment. The priority now, he said, is to convert these capabilities into commercially viable businesses with the scale to compete internationally.
Dr. Jitendra Singh stressed that generating demand is essential for the growth of private space companies. Referring to the Government’s use-case-based approach, he said anchor government customers and support for proof-of-concept projects can help enterprises demonstrate their technologies and move towards commercial deployment. A predictable customer base can give companies the confidence to invest in production, develop market-ready products and build sustainable revenue streams.
He also stressed the need for timely regulatory approvals, lower business costs and stronger supply-chain integration. Companies seeking installation or export licences should be able to obtain the necessary approvals within defined timeframes. Referring to GST-related measures for space products, the Minister said reforms must translate into practical benefits for industry. Investment becomes sustainable when businesses have predictable demand, efficient processes and a clear path to commercial growth.
On investment and international cooperation, the Minister said India is opening up opportunities for capital and partnerships while continuing to strengthen indigenous capabilities. Greater investment can support technology development, manufacturing and access to international markets, while domestic capabilities remain important for national security and strategic autonomy.
He called for stronger collaboration between Indian government institutions and private enterprises, complemented by partnerships with international counterparts. This approach can help Indian companies integrate into global supply chains, expand their customer base and contribute to the wider space economy without compromising national interests. The objective is to combine the strengths of public and private enterprises in India with the capabilities of partners abroad.
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