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New Delhi, October 17, 2026 (Yes Punjab News)
India's space industry could expand to $40–45 billion by 2030, driven by policy reforms, rising private-sector participation and the commercialization of space activities, according to a report by Tanzania-based The Guardian.
The report estimated India's space economy at around $8.4 billion, a relatively modest share of the global market, but said the sector was positioned for significant growth as commercial opportunities expanded.
It cautioned, however, that achieving the projected growth would require continued investment, regulatory certainty, infrastructure development and sustained technological innovation.
The report highlighted the policy changes introduced in 2020 and formalized through the Indian Space Policy 2023, which opened up much of the space value chain to private enterprises. Companies can now pursue activities ranging from satellite manufacturing and launch services to remote sensing and space-based communications.
The reforms have helped shift India's traditionally government-led space ecosystem towards a collaborative model involving public institutions, private companies, academic institutions, research centers and start-ups, the publication said.
The government has also redistributed responsibilities among the Indian Space Research Organization (ISRO), the Indian National Space Promotion and Authorization Center (IN-SPACe) and NewSpace India Limited (NSIL).
IN-SPACe has been tasked with promoting and authorizing private-sector participation, including facilitating access to testing facilities, launch infrastructure, data generated using public resources and technologies developed by ISRO.
The report also pointed to the emergence of a growing space start-up ecosystem, with companies developing proprietary technologies and pursuing independent commercial strategies.
“By mid-2026, nearly 400 space start-ups had become active participants in the sector, representing one of the fastest-growing segments of India's innovation economy,” the report said.
It added that government initiatives, including the Seed Fund Scheme, pricing support, mentorship programs, design laboratories for non-government entities (NGEs), skill-development initiatives, technology-transfer mechanisms and access to ISRO facilities, were helping create a supportive environment for innovation.
The report said these measures were laying the groundwork for further expansion, while noting that sustained policy support and investment would remain important to the sector's long-term growth.