India's Space Economy to Hit $45 Billion by 2036, Says Minister

India's space economy is projected to grow from $8-9 billion to $45 billion by 2036, according to Dr. Jitendra Singh, Union Minister of State for Science & Technology. Over 400 space startups are driving this growth, supported by policy reforms and a robust innovation ecosystem, he said at the RISE Conclave 2026.

Dr. Singh highlighted that India's advancements in space technology, including missions like Chandrayaan-3, have positioned the country among leading space-faring nations. He emphasized the role of space technology in governance and infrastructure development, citing initiatives like PM Gati Shakti and urban development programs as examples of its practical applications.

The Minister noted that India's space sector has undergone a significant transformation, with science and technology becoming integral to public discourse and national development. He attributed this shift to Prime Minister Narendra Modi's emphasis on science-driven initiatives such as Digital India and Gaganyaan.

India's space startups, which have grown from a handful to over 400 in recent years, are a testament to the sector's potential. These startups are contributing to a vibrant ecosystem that is expected to drive economic growth and technological self-reliance, aligning with the vision of 'Viksit Bharat 2047.'

Dr. Singh also mentioned that lessons from past space missions, including the recent PSLV mission anomaly, are being used to strengthen future projects. He reaffirmed India's commitment to innovation and its growing reputation as a trusted global technology partner.

Key Points
- India's space economy is projected to grow to $45 billion by 2036.
- Over 400 space startups are driving this growth, supported by reforms.
- Missions like Chandrayaan-3 have boosted India's global space standing.
- Space technology is aiding governance and infrastructure development.
- India aims for innovation-led growth under the 'Viksit Bharat 2047' vision.

FAQ

What is the projected size of India's space economy by 2036?
India's space economy is expected to grow to $45 billion by 2036.

How many space startups are currently active in India?
There are over 400 space startups contributing to India's space sector.

What role does space technology play in India's development?
Space technology is used in governance, infrastructure planning, and project monitoring.