400 Plus Startups Power India’s Space Boom, Economy Targeted at USD 45 Billion

India’s space journey is entering a decisive growth phase, with the government projecting the country’s space economy to rise sharply from around USD 8 to 9 billion at present to nearly USD 40 to 45 billion over the next decade. The expansion is being powered by policy reforms , rising private participation and a fast growing ecosystem of innovation, according to the Union government.

Speaking at the RISE Conclave 2026 , Union Minister of State for Science & Technology and Earth Sciences Dr Jitendra Singh highlighted that India is witnessing a structural transformation in its scientific landscape, where space technology is no longer limited to research institutions but is increasingly shaping governance, development and everyday life .

He noted that one of the most significant shifts in recent years has been the stronger connection between science and society . Citizens, he said, are now active stakeholders in India’s scientific progress, reflecting a broader cultural change driven by visibility of missions such as Chandrayaan 3 and upcoming projects like Gaganyaan .

A major driver of this transformation is the rapid rise of private participation . India, which had only a handful of space startups a few years ago, now has more than 400 startups operating in the sector. These co mpanies are working across satellite technology, launch systems, AI applications and earth observation solutions, adding strong momentum to the innovation ecosyst em.

The Minister said this growth aligns with the government’s larger vision of a technology driven economy under the framework of Viksit Bharat 2047 . He added that science and technology are now central pillars of India’s development strategy, alongside initiatives such as Digital India , Swachh Bharat , and the Deep Ocean Mission .

India’s space capabilities have also strengthened its global standing, with successful missions such as Chandrayaan 3 establishing the country among leading space-faring nations . The government also highlighted that India’s cost-effective and reliable execution of complex missions has improved its reputation as a trusted technology partner worldwide.

Space-based applications are now increasingly being used in governance and infrastructure planning. Projects such as PM Gati Shakti , urban development programmes and drone-enabled monitoring systems are using satellite data to improve transparency, efficiency and real-time decision making in public administration.

According to the Minister, setbacks in space missions are treated as part of the learning process in scientific advancement . He said India’s research ecosystem continuously evolves by analysing challenges, strengthening systems and improving preparedness for future missions.

He also confirmed that the recent PSLV mission anomaly has been reviewed, root causes identified and corrective measures initiated to ensure improved performance in upcoming launches.

The conclave brought together over 125 startups, researchers, industry leaders and policymakers , focusing on strengthening collaboration between science and industry. Discussions centred on converting research into real-world applications that can contribute to both economic growth and societal benefit .

India’s expanding space ecosystem, supported by startups, research institutions and government missions, is now positioned as a key driver of economic growth and technological self-reliance . With sustained investment and innovation, the sector is expected to play a central role in shaping India’s ambition of becoming a developed nation by 2047 .