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India's space economy from $8 billion to $44 billion

India's space economy from $8 billion to $44 billion

India's space economy is on the cusp of transformative growth, with projections estimating an increase from approximately $8 billion to $44 billion within a few years. This anticipated expansion is set to boost economic value addition and plays a significant role in realizing the vision of a "Viksit Bharat" (Developed India) by 2047. Key Drivers of Growth Enhanced Government Investment: Under Prime Minister Narendra Modi's leadership, the space budget has seen a marked increase—from ₹5,615 crore in 2013-14 to an estimated ₹13,416 crore in 2025-26. This rise in funding underscores the government's commitment to developing advanced space technologies and infrastructure. Strategic Initiatives: The creation of institutions like the Indian National Space Promotion and Authorization Center (IN-SPACe) aims to streamline private sector participation in space activities. Additionally, NewSpace India Limited (NSIL) is tasked with commercializing ISRO's technologies, ther…

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