Indian space sector to account for 8-10% of $1.8-trillion global space economy

• India’s space sector is projected to capture 8–10% of the global space economy by 2035.

• Strong growth is driven by government policy support, private participation, and global investor interest.

• The government has launched a ₹1,000 crore space-focused venture fund.

• Major global investors are tracking Indian spacetech opportunities.

• Over 390 startups registered with IN-SPACe, signalling a rapidly maturing ecosystem.

India’s space sector is positioning itself as a significant contributor to the global space economy, with projections suggesting it could command 8–10 per cent of the worldwide market by 2035. This outlook was shared by Dr Pawan Goenka, Chairman of the Indian National Space Promotion and Authorisation Centre (IN-SPACe), during an interaction with investors in Singapore earlier this week.

Speaking on the sidelines of an investor forum, Dr Goenka noted that India’s space ecosystem is gaining momentum, driven by policy support, private participation, and rising international interest. The global space economy, currently valued between USD 440 billion and USD 630 billion by industry experts, is expected to expand substantially in the coming decade, creating room for emerging players such as India to capture a larger share.

According to Dr Goenka, major institutional investors are closely tracking developments in India’s space industry. Funds such as Singapore’s Government Investment Corporation and Temasek, already among the largest foreign investors in India, are expected to explore opportunities within the country’s expanding space landscape. He made these remarks after addressing around 100 investors at a forum jointly organised by the Indian High Commission in Singapore and the local chapter of TiE (The Indus Entrepreneurs).

The forum highlighted the range of opportunities opening up across satellite technologies, launch services, and downstream space applications. Dr Goenka emphasised that the Indian government is actively supporting this growth through a Rs 1,000 crore venture capital fund dedicated to the space sector, with plans to scale it further as demand rises.

He also reiterated Prime Minister Narendra Modi’s vision of nurturing one unicorn every year in the space domain, each backed by investments of around USD 1 billion. Under this roadmap, the goal is to create five space unicorns over five years, a process that, he said, is already underway.

Startups accompanying the Indian delegation used the platform to present their technologies and business models to potential investors at the session titled “Orbiting Innovation: Spacetech Startups and Industries Shaping the Future.” These pitches reflected the growing maturity and diversity of India’s private space players.

IN-SPACe has so far registered more than 390 startups and granted authorisation to over 800 companies to carry out space-related activities. Among the notable success stories is space situational awareness firm Digantara, which has secured USD 50 million in funding.

The Indian pavilion at the summit showcased ongoing projects from companies including Hical, Skyroot Aerospace, XDLinX Space Labs, General Datum, Azista Space, Gnikul, and Cosmoserve, offering investors a closer look at India’s technological capabilities.

The summit attracted over 1,000 delegates from various countries, underlining the growing global interest in India’s ambitions to become a major force in the space economy.