India’s space economy eyes $45 nillion by 2030

New Delhi India’s space sector is undergoing a major commercial transformation following policy reforms that have opened the industry to private companies, with the country’s space economy projected to reach $40 billion to $45 billion by 2030, according to a report by Tanzania-based The Guardian. Currently valued at approximately $8.4 billion, India’s space economy represents a relatively small share of the global market. However, the report said the sector has significant growth potential, provided the country sustains investment, ensures regulatory certainty, develops infrastructure and continues technological innovation. The transformation gained momentum following reforms introduced in 2020 and the adoption of the Indian Space Policy 2023. These changes eased longstanding government control over the space value chain, allowing private enterprises to undertake activities ranging from satellite manufacturing and launch services to remote sensing and space-based communications. The report noted that India’s traditionally government-led space ecosystem has evolved into a collaborative network involving public institutions, private companies, academic organisations, research centres and start-ups. Institutional changes have also helped define responsibilities across the sector. The Indian Space Research Organisation (ISRO), Indian National Space Promotion and Authorisation Centre (IN-SPACe) now operate within a framework designed to support broader commercial participation. IN-SPACe facilitates private companies’ access to testing facilities, launch infrastructure, publicly generated space data and technologies developed by ISRO. These provisions are intended to reduce barriers for businesses seeking to develop and commercialise space-related products and services. The reforms have also encouraged the emergence of start-ups pursuing independent commercial strategies and developing proprietary technologies.