New Delhi wants to grow its space industry to about US$44 billion by 2033, up from an estimated US$8.4 billion today, according to India’s Department of Space. The plan combines government-led missions with a fast-growing private sector and a push to attract foreign partners.
India has already built a reputation for low-cost satellite launches, having sent dozens of satellites from countries such as Singapore into orbit. Officials say this gives India an edge as more nations and companies turn to smaller, cheaper satellites for communications, climate monitoring and urban planning.
To support this demand, India is developing dedicated launch infrastructure for small satellites, including new launch pads and multiple small satellite launch vehicles capable of carrying payloads of up to 500kg. These are expected to become fully operational within the next two years.
At the same time, India has opened up its space sector to foreign investment, allowing up to 100 per cent foreign ownership in certain categories. The move is aimed at drawing capital, technology and customers from abroad, especially as Asia’s space market expands. The country plans to build its own space station by 2035 and send an Indian astronaut to the Moon by 2040, narrowing the technological gap with the US and China.
While the US currently dominates the global satellite launch market and China holds a strong second position, Indian officials believe their focus on affordability, private-sector innovation and regional partnerships will help the country carve out a larger role in the global space race.
“Our growth will come from both domestic demand and international collaboration,” said Pawan Goenka, chairman of the Indian National Space Promotion and Authorisation Centre.
