India's space economy scales $9 billion mark

New Delhi, Nov 15 (IANS) India’s space economy has expanded to about $9 billion, up from $8.4 billion in 2023, with the number of registered startups in the space sector rising to 440 from one in 2014, reflecting the increasing role of private players, a government statement said.

The cumulative investment in Indian space start-ups increased more than 6-fold from $100.5 million in 2021–22 to $618.5 million by March 31, 2026, according to a government factsheet.

As India's space capabilities matured, the government recognised the need for moving beyond a predominantly government-led operational framework. Accordingly, the government adopted a more facilitative and outcome-oriented approach to space-sector governance. This approach retained public-sector leadership while encouraging private innovation, investment and entrepreneurship.

NewSpace India Limited (NSIL) was established in March 2019 as the commercial arm of the Department of Space.

Its mandate was subsequently expanded to commercialise technologies developed using public funds. NSIL was also tasked with aggregating demand from government and other customers. It would further market and sell these technologies and services in domestic and international markets. Meanwhile, private-sector space activities continued to remain subject to applicable licensing, safety and security requirements.

NSIL revenues have increased by nearly 10-fold from Rs 321.77 crore in FY 2021-22 to over ₹3000 crore in FY 2024-25.

It has signed 118 technology transfer agreements covering 83 ISRO technologies.

The government approval also established the Indian National Space Promotion and Authorisation Centre (IN-SPACe) as an autonomous agency. It operates under the DoS and serves as a single-window interface for private enterprises for regulatory clearances. Its mandate includes promoting private participation, authorising and supervising space activities, and facilitating access to ISRO facilities, subject to safety considerations and operational priorities.

Its mandate also covers 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 industry and startups. By mid-2026, 113 authorisations had been granted by IN-SPACe to 52 NGEs, of which 18 were start-ups.

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

Recognising the potential of private enterprises to expand India's space capabilities and strengthen its position in the global space economy, the Indian government announced major space-sector reforms on June 24, 2020. The expansion of India's space programme also brought an opportunity to tap the growing global commercial space market and scale up industrial participation.

The Union Cabinet approved reforms enabling greater private-sector participation in space activities.

These reforms marked a significant shift towards a collaborative public-private model. They also laid the foundation for a more competitive and commercially driven space sector. These reforms positioned the private sector as an active partner in advancing national capabilities, commercial opportunities and global competitiveness.

By mid-2026, the government received 11 FDI proposals worth Rs 1,745.40 crore for the space sector. As of June 2026, India's global partnerships expanded to over 300 space cooperation agreements across 61 countries and five multilateral organisations, the factsheet added.

--IANS