The PIB announced on 28 October 2026 that India is advancing its space capabilities through new technologies like reusable launch vehicles and in-orbit docking. The Union Cabinet previously approved ₹8,240 crore for the Next Generation Launch Vehicle (NGLV), which will triple India's current launch payload capacity to 30 tonnes for Low Earth Orbit. These efforts aim to grow India's space economy to US$44 billion by 2033. The Department of Space and ISRO are also organizing a thematic session on space technologies at the ESTIC-2026 conclave on 29 October 2026.
Key points
- NGLV budget: ₹8,240 crore approved for development and flights.
- Payload target: NGLV to increase LEO capacity to 30 tonnes.
- Economic goal: Space economy targeted to reach US$44 billion by 2033.
- Event: Space Science session at ESTIC-2026 on 29 October 2026.
- Investment: Space start-up investment reached ~US$618.5 million as of 31 March 2026.
When it applies
- India's Emerging Science, Technology and Innovation Conclave (ESTIC-2026)
- Space Science & Technologies thematic session at ESTIC 2026
Who it affects
- Indian space sector