India’s space sector is set to become a major driver of national economic growth, with projections indicating the industry could expand from USD 8 billion today to USD 44-45 billion over the next decade.
Addressing the gathering in New Delhi, Jitendra Singh, Minister of State (IC) for Science & Technology and the Department of Space, said India’s recent policy reforms had fundamentally reshaped the sector. “Space reforms in the last five years have been a turning point. Our space economy was dispersed and was not even considered a part of the economy. Today, the Indian space economy is USD 8 billion, and in the next 10 years, it will go up to USD 44-45 billion,” he said.
He added that nearly 70 per cent of space-driven applications in India focus on improving ease of living for citizens, a priority that distinguishes India’s approach from many other spacefaring nations.
Adding a personal experience to the session, ISRO Astronaut Gp Capt Shubhanshu Shukla reflected on the transformative impact of representation in space. “When you cross the boundary of space, you are given a number, and I was number 634. But when I came back, kids told me: ‘We cared because you were there.’ When you see someone like yourself doing the impossible, it inspires you to dream. Sky was never the limit, not for me, not for you, not for Bharat,” he said.
Italian Ambassador Antonio Bartoli praised India’s technological capabilities and said bilateral cooperation in space was “destined to deepen,” noting Italy’s full value-chain expertise in the sector. Similarly, Japan’s Deputy Chief of Mission Takashi Ariyoshi emphasised the strategic partnership between the two countries across lunar missions, climate research and space sciences. “Our nations, bound by shared values and trust, are strengthening a vibrant space ecosystem,” he said.
Pawan Goenka, Chairman of IN-SPACe, noted the rapid growth in private-sector investment and global partnerships. While appreciating the enthusiasm of young Indian space companies, he cautioned that long-term success would require sustained demand creation. “Think big, take no shortcuts, persevere and collaborate, these will be key,” he said.
ISpA Chairman and L&T Senior VP AT Ramchandani reflected on India’s journey from resource-limited beginnings to a rapidly maturing ecosystem powered by ISRO, IN-SPACe and private enterprise. “We are ready to script the next chapter of India’s space odyssey and inspire the next generation of explorers,” he said.
Lt Gen AK Bhatt (Retd.), The Director General of ISpA, highlighted rising engagement from international trade bodies and anticipated a busy year ahead with multiple satellite and rocket launches planned. He underlined the importance of deeper collaborations with countries like Japan to strengthen India’s security and innovation capabilities.
Viasat India unveiled its partnership with BSNL to commercialise the Velaris satellite connectivity platform for uncrewed aircraft, enabling secure BVLOS operations and supporting emerging sectors such as air ambulances and infrastructure monitoring. “We are partnering with startups and BSNL to build an innovative ecosystem for the low-altitude economy,” said Gautam Sharma, MD, Viasat India.
Global consulting firm Novaspace also announced the opening of its India office in Bengaluru to support the country’s expanding space economy and accelerate engagements with government and private stakeholders. |
