Momentum is building around India’s space ambitions as global investors and policymakers point to strong long-term growth driven by policy support and a fast-expanding start-up ecosystem.
India’s space sector could capture between 8% and 10% of the global space economy by 2035, according to projections shared at an investor forum held in Singapore today. The global space economy is expected to touch $1.8 trillion by that time, up from its current estimated value of $440 billion to $630 billion. The outlook was presented by Dr. Pawan Goenka, Chairman of IN-SPACe, while addressing investors and industry leaders.
Major global investors are already showing interest in the Indian space market. Singapore-based investment giants such as GIC and Temasek are among India’s largest investors and are now looking to expand their exposure to the country’s growing space sector.
The Indian government is actively backing this growth through policy and funding support. A ₹1,000 crore capital venture fund has been set up to support space-focused start-ups, with expectations that the fund size will increase in the future. Dr. Goenka also highlighted Prime Minister Narendra Modi’s vision of nurturing high-value start-ups in the sector. He said, “Five unicorns are to be developed in five years as per the Prime Minister’s call.” The broader goal includes creating one unicorn every year, each backed by $1 billion in investment.
IN-SPACe has played a key role in building the ecosystem. So far, it has registered more than 390 start-ups and authorised over 800 companies to carry out activities linked to the space sector. These companies span areas such as launch services, satellite technology, data analytics, and manufacturing.
Among the notable success stories is Digantara, a space start-up that has raised $50 million in funding. The Indian pavilion at the summit featured work-in-progress displays from companies including Hical, Skyroot, XDLinX Space Labs, General Datum, and Azista Space, reflecting the sector’s growing depth and diversity.
Together, strong government backing, rising investor confidence, and rapid start-up growth are positioning India as a serious contender in the global space economy over the next decade.
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