India’s space economy is predicted to develop practically five-fold to USD 40–45 billion over the next decade, pushed by coverage reforms, growing personal sector participation and a quickly increasing startup ecosystem, Union Minister of State (Independent (*45*)) for Science and Technology Dr Jitendra Singh stated on Sunday.
Addressing the media through the RISE Conclave 2026 in New Delhi, Dr Singh stated India’s transformation in the space sector displays a broader shift in which science and know-how have grow to be central to the nation’s growth agenda and more and more linked with on a regular basis residents.
“The biggest achievement is that the common citizen today feels connected to India’s scientific progress and sees a stake in it,” the Minister stated.
He famous that India’s space economy, at the moment estimated at round USD 8–9 billion, is poised for substantial development as reforms proceed to encourage innovation, entrepreneurship and personal funding.
Highlighting the affect of space sector reforms, Dr Singh stated India, which had solely a handful of space startups just a few years in the past, now has greater than 400 startups working in the sector.
“The scale of growth achieved in a relatively short period demonstrates the enormous potential of India’s space economy,” he stated.
The Minister credited Prime Minister Narendra Modi’s emphasis on science-driven growth for bringing scientific innovation into mainstream public discourse. He stated initiatives equivalent to Digital India, Swachh Bharat Mission, Digital Health Mission, Deep Ocean Mission and Gaganyaan have helped place science and know-how on the centre of India’s development story.
Referring to landmark achievements equivalent to Chandrayaan-3, Dr Singh stated India’s profitable space missions have generated unprecedented public curiosity in science and strengthened the nation’s world standing as a number one space-faring nation.
“India has consistently demonstrated its ability to execute complex missions with efficiency, innovation and cost-effectiveness,” he stated.
The Minister highlighted India’s distinctive use of space know-how in governance and growth, noting that satellite-based functions are being extensively used for infrastructure planning, monitoring and public service supply.
He cited initiatives equivalent to PM Gati Shakti, city growth programmes and drone-enabled monitoring programs as examples of how space know-how is enhancing undertaking implementation, transparency and effectivity.
“India is using space technology not only for exploration but also as a powerful tool for governance and infrastructure development,” he stated.
Dr Singh stated India’s rising capabilities in frontier sectors equivalent to space, atomic power and superior applied sciences have enhanced the credibility of indigenous applied sciences and strengthened the nation’s place as a trusted world know-how accomplice.
He additionally harassed that challenges encountered throughout scientific missions contribute to stronger programs and improved preparedness for future initiatives.
Referring to the latest PSLV mission anomaly, the Minister stated the evaluation has been accomplished, the causes have been recognized and corrective measures have already been initiated.
“Future missions will benefit from these learnings, further strengthening India’s space programme,” he stated.
The Minister underscored that scientific achievements are more and more contributing to financial development, technological self-reliance and world competitiveness.
He stated the participation of startups, {industry} and analysis establishments helps create a sturdy innovation ecosystem able to supporting the imaginative and prescient of Viksit Bharat 2047.
The RISE Conclave 2026, organised below the theme “Innovation and Entrepreneurship Driven Growth for Viksit Bharat 2047”, introduced collectively researchers, entrepreneurs, traders, {industry} leaders and policymakers to strengthen collaboration throughout the innovation ecosystem.
More than 125 startups and know-how innovators participated in the occasion, showcasing options in aerospace applied sciences, synthetic intelligence, deep-tech and agri-food innovation. Discussions targeted on selling research-industry partnerships and accelerating the interpretation of scientific analysis into societal and financial outcomes.