New Delhi: Union Minister Dr. Jitendra Singh said India space economy is expected to grow from USD 8–9 billion to nearly USD 45 billion over the next decade. He said policy reforms, private participation and a strong innovation ecosystem will drive this expansion.
Speaking at the RISE Conclave 2026, the Minister said more than 400 space startups are now contributing to India’s growing space sector. He added that science and technology have moved beyond laboratories and become part of national progress.
According to him, citizens now actively connect with scientific achievements and view themselves as partners in India’s development journey. Moreover, he said programmes such as Digital India, Swachh Bharat, Deep Ocean Mission and Gaganyaan have strengthened the role of science in governance.
India space economy driven by startups and innovation
Dr. Jitendra Singh said India’s private space ecosystem has expanded rapidly in recent years. Earlier, only a few companies operated in the sector. However, policy reforms opened new opportunities for startups, industries and researchers.
He said missions like Chandrayaan-3 have increased public interest in space science. Additionally, India uses space technology for infrastructure planning, monitoring and public service delivery through initiatives such as PM Gati Shakti and urban development programmes.
The Minister said India has emerged as a reliable technology partner because of its progress in space, atomic energy and advanced technologies. He added that scientific advancements are helping the country achieve technological self-reliance and economic growth.
Dr. Jitendra Singh said experts have completed the analysis of the recent PSLV mission anomaly and initiated corrective steps. Therefore, future missions will become stronger through lessons learned from previous challenges.
He said collaboration among startups, industry, researchers and investors will strengthen innovation and help realise the vision of Viksit Bharat 2047. The RISE Conclave 2026 witnessed participation from more than 125 startups showcasing solutions in aerospace, artificial intelligence, deep technology and agri-food sectors.
