Union Minister Dr. Jitendra Singh announced on 17 October 2026 that India's space economy, currently valued at around USD 9 billion, is expected to grow to USD 40–45 billion over the next seven to eight years. Speaking at a roundtable, the Minister stated that India must transition from demonstrating technology to building globally competitive commercial space companies. He emphasized that scaling the private industry requires predictable demand, faster regulatory approvals, and sustainable business models. The release does not say when these specific regulatory reforms take effect.
Key points
- Current space economy value: around USD 9 billion
- Projected value: USD 40–45 billion within 7–8 years
- Goal: Convert technological capabilities into commercially viable businesses
- Needs: Faster regulatory approvals for installation and export licences
- Focus: Integration of public-private partnerships and international cooperation
When it applies
- media Roundtable on “Space, Sovereignty and New Economy”
- opening of India’s Space sector to private participation