India’s space economy grows to $9 billion, startups surge to 440

Daijiworld Media Network - New Delhi

New Delhi, Nov 15: India's space economy has expanded to approximately $9 billion from $8.4 billion in 2023, while the number of registered space-sector startups has increased sharply from just one in 2014 to 440, reflecting the growing participation of private enterprises, according to a government statement.

A government factsheet revealed that cumulative investments in Indian space startups rose more than six-fold, from $100.5 million in 2021-22 to $618.5 million as of March 31, 2026.

With India's space capabilities maturing, the government recognised the need to move beyond a predominantly government-led operational framework. Accordingly, it adopted a more facilitative and outcome-oriented approach to space-sector governance, retaining public-sector leadership while encouraging private innovation, investment and entrepreneurship.

As part of this approach, NewSpace India Limited (NSIL) was established in March 2019 as the commercial arm of the Department of Space (DoS). Its mandate was subsequently expanded to include the commercialisation of technologies developed using public funds, aggregating demand from government and other customers, and marketing and selling these technologies and services in domestic and international markets.

However, private-sector space activities continue to remain subject to applicable licensing, safety and security requirements.

NSIL's revenue has increased nearly ten-fold, from Rs 321.77 crore in FY 2021-22 to over Rs 3,000 crore in FY 2024-25. The organisation has also signed 118 technology transfer agreements covering 83 technologies developed by the Indian Space Research Organisation (ISRO).

The government also established the Indian National Space Promotion and Authorisation Centre (IN-SPACe) as an autonomous agency under the Department of Space to serve as a single-window interface for private enterprises seeking regulatory clearances.

Its mandate includes promoting private-sector participation, authorising and supervising space activities, and facilitating access to ISRO facilities, subject to safety considerations and operational priorities.

IN-SPACe also oversees mission safety, launch readiness, orbital and frequency coordination, spacecraft registration and security requirements.

As of January 31, 2026, IN-SPACe had facilitated 71 technology transfers to industries and startups. By mid-2026, it had granted 113 authorisations to 52 non-government entities (NGEs), including 18 startups.

Six Indian non-government entities have launched 18 satellites, while 25 payloads have been flown or scheduled to be flown on PSLV Orbital Experimental Module (POEM) platforms.

The government announced major reforms in the space sector on June 24, 2020, recognising the potential of private enterprises to expand India's space capabilities and strengthen its position in the global space economy.

The expansion of the country's space programme also opened opportunities to tap the growing global commercial space market and increase industrial participation.

The Union Cabinet subsequently approved reforms aimed at enabling greater private-sector participation in space activities, marking a significant shift towards a collaborative public-private model. The measures laid the foundation for a more competitive and commercially driven space sector, positioning private enterprises as active partners in strengthening national capabilities, expanding commercial opportunities and improving global competitiveness.

The government's efforts have also attracted foreign investment into the sector. By mid-2026, it had received 11 foreign direct investment (FDI) proposals worth Rs 1,745.40 crore for the space sector.

India's international cooperation has also expanded, with more than 300 space cooperation agreements in place across 61 countries and five multilateral organisations as of June 2026, the factsheet added.