Government’s Vision for India’s Share in the Global Commercial Space Economy
India aims to expand its share of the global space market from the
Drivers of Growth
ISRO’s cost-effective and scientifically robust missions (e.g., Chandrayaan-3,
Mars Orbiter Mission) have established.
India’s reputation for affordable excellence in space technology
Conclusion
The Government of India has articulated a clear and ambitious vision to
significantly increase the country's share in the global commercial space
economy.
Strategic Initiatives :
The Indian National Space Promotion and Authorization Center
(IN-SPACe) has developed a decadal Vision and Strategy to provide
a framework for this growth, focusing on both public and private
sector collaboration.
The government has introduced a ₹1,000 crore venture capital fund to
support space startups and innovation, aiming to address funding
challenges and foster a strong ecosystem.
Private sector participation is being actively encouraged, with more
than 250 new startups now operating in the Indian space sector, and
partnerships forming for projects such as the first privately assembled
Polar Satellite Launch Vehicle (PSLV).
Vision and Targets :
By 2033, the government envisions India capturing 8% to 10% of the global
space market and growing its domestic space economy to $48 billion USD.
current 2% to 10% by 2030, representing a five-fold increase.
The longer-term vision is to reach more than 35% share by 2047,
aligning with the national goal of "Viksit Bharat 2047" , On 100'th
year of Independence.
Some projections even suggest the potential to reach $50 billion by
2025 and possibly double the projected share to 15% by 2035 with
robust private sector participation.
The government is leveraging space technology for national priorities such as
land digitization (Swamitva scheme), resource, mapping, navigation (NavIC)
and communication.
Export growth is a focus, with a target of $11 billion in space-related exports
by 2033.
India’s vision is to transform from a modest 2% participant in the global
space economy to a major player with a 10% share by 2030 and
potentially 15% by 2047. This will be achieved through policy reforms,
increased funding, private sector engagement, and leveraging ISRO’s
technological strengths. The government’s proactive approach is
positioning India as a rising leader in the global commercial space sector.
