India's space economy could expand from about 9 billion US dollars to between 40 billion and 45 billion dollars over the next seven to eight years, according to Minister of State for Space Jitendra Singh. He presented the estimate during a media roundtable on space, sovereignty and the new economy in New Delhi.
Singh said reaching that scale would require more domestic and international investment, quicker regulatory decisions and sustainable business models. He also identified lower operating costs and better integration of supply chains as priorities for companies seeking to move from technical demonstrations to commercially viable products and services.
The minister linked recent progress to the opening of the sector to private participation over the past five to six years. His remarks placed public institutions and private enterprises in complementary roles: government bodies retain deep technical capabilities, while newer firms can broaden manufacturing, services and market access when regulation and capital support expansion.
The forecast is an official expectation, not a measured outcome or guaranteed valuation. Singh said demand generation will be essential for private companies, while international partnerships can provide investment and access to overseas markets. He also maintained that indigenous capability remains important for national security and strategic autonomy as commercial activity grows.
