{"id":53631,"date":"2025-09-10T21:10:10","date_gmt":"2025-09-10T15:40:10","guid":{"rendered":"https:\/\/www.nextias.com\/ca\/?p=53631"},"modified":"2025-09-12T12:12:37","modified_gmt":"2025-09-12T06:42:37","slug":"india-space-economy-growth-44-billion-2033","status":"publish","type":"post","link":"https:\/\/www.nextias.com\/ca\/current-affairs\/10-09-2025\/india-space-economy-growth-44-billion-2033","title":{"rendered":"India Projects five-fold Growth in Space Economy to $44 Billion by 2033"},"content":{"rendered":"\n<p><strong>Syllabus: GS3\/Space&nbsp;<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Context<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>India&#8217;s space sector<\/strong> is projected to surge from <strong>USD 8.4 billion<\/strong> in 2022 to <strong>USD 44 billion by 2033,<\/strong> aiming to capture <strong>8% of the global market.<\/strong><\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>India\u2019s share in the Space Industry<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>India\u2019s space economy contributes <strong>2-3% <\/strong>of the global space economy, and this is expected to rise to <strong>8% by 2030<\/strong> and further to<strong> 15% by the year 2047.<\/strong><\/li>\n\n\n\n<li>With over <strong>400<\/strong> private space companies, India ranks <strong>fifth globally <\/strong>in the number of space companies.<\/li>\n<\/ul>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full is-resized\"><img data-dominant-color=\"e6eaec\" data-has-transparency=\"false\" loading=\"lazy\" decoding=\"async\" width=\"611\" height=\"493\" src=\"https:\/\/wp-images.nextias.com\/cdn-cgi\/image\/format=auto\/ca\/uploads\/2025\/09\/India-Projects-five-fold-Growth-in-Space-Economy-to-44-Billion-by-2033.webp\" alt=\"India Projects five-fold Growth in Space Economy to $44 Billion by 2033\" class=\"not-transparent wp-image-53649\" style=\"--dominant-color: #e6eaec; width:491px;height:auto\" srcset=\"https:\/\/wp-images.nextias.com\/cdn-cgi\/image\/format=auto\/ca\/uploads\/2025\/09\/India-Projects-five-fold-Growth-in-Space-Economy-to-44-Billion-by-2033.webp 611w, https:\/\/wp-images.nextias.com\/cdn-cgi\/image\/format=auto\/ca\/uploads\/2025\/09\/India-Projects-five-fold-Growth-in-Space-Economy-to-44-Billion-by-2033-300x242.webp 300w\" sizes=\"auto, (max-width: 611px) 100vw, 611px\" \/><\/figure>\n<\/div>\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Private players in the Space Industry: <\/strong>The number of space startups in India increased to nearly 200 in 2024 from just one in 2022.\n<ul class=\"wp-block-list\">\n<li>The funding received by these start-ups reached a total of $124.7 Mn in 2023 from $67.2 Mn in 2021.&nbsp;<\/li>\n\n\n\n<li>Skyroot have launched India\u2019s first privately built rocket, Vikram-S, into space, with plans to revolutionise satellite launches.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-background\" style=\"background-color:#ebecf0\"><tbody><tr><td><strong>Roles and responsibilities of Various Organizations Under the&nbsp; Indian Space Policy 2023:<\/strong><br>&#8211; <strong>IN-SPACe (Indian National Space Promotion and Authorization Center): <\/strong>It is an <strong>autonomous single-window agency <\/strong>responsible for:<br>1. Authorizing all government and private space activities.<br>2. Promoting industry clusters, incubation centers, and accelerators.<br>3. Facilitating technology transfer from ISRO to private players.<br>4. Approving remote sensing data dissemination and launch manifests.<br>&#8211; <strong>Indian Space Research Organisation (ISRO) refocused on:<\/strong><br>1. <strong>R&amp;D <\/strong>in new space technologies, human spaceflight, and scientific exploration.<br>2. Transitioning operational space systems to industry.<br>3. Providing open access to remote sensing data.<br>4. Supporting academia and industry collaboration.<br>5. Enabling long-term human presence in space.<br>&#8211; <strong>NewSpace India Limited (NSIL): <\/strong>Acts as the<strong> commercial arm<\/strong> of the Department of Space:<br>1. Commercializes space technologies developed by ISRO.<br>2. Manufactures and procures space assets.<br>3. Serves both government and private sector clients on commercial terms.<br>&#8211; <strong>Department of Space (DoS): <\/strong>Acts as the <strong>policy coordinator:<\/strong><br>1. Ensures smooth role distribution among stakeholders.<br>2. Oversees implementation of the policy.<br>3. Coordinates international cooperation and compliance.<br>4. Ensures safe operations and resolves disputes.<br>5. Maintains global standards and interoperability in navigation systems.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Steps Taken by the Government<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong><strong>Space Sector Reforms (2020)<\/strong>:<\/strong> The Government allowed private sector participation, defining the roles of IN-SPACe, ISRO, and NSIL.<\/li>\n\n\n\n<li><strong>Venture Capital (VC) Fund: <\/strong>The Union Cabinet has approved the establishment of a Rs.1,000 crore Venture Capital (VC) Fund dedicated to supporting India\u2019s space sector.&nbsp;<\/li>\n\n\n\n<li><strong>ISRO\u2019s Structural Strength &amp; Cost-Effectiveness: <\/strong>ISRO\u2019s track record of high-impact, cost-efficient missions\u2014such as Chandrayaan-3 and the Mars Orbiter Mission\u2014has positioned India favorably on the global stage.<\/li>\n\n\n\n<li><strong>Space Vision 2047: <\/strong>Aims for Bharatiya Antariksh Station (BAS) by 2035 and an Indian Moon landing by 2040.\n<ul class=\"wp-block-list\">\n<li>Gaganyaan programme has entered its final phase, with the first human spaceflight now scheduled for the first quarter of 2027.<\/li>\n\n\n\n<li>Bharatiya Antariksh Station (BAS) first module by 2028.<\/li>\n\n\n\n<li>Next Generation Satellite Launch Vehicle (NGLV) by 2032.<\/li>\n\n\n\n<li>Chandrayaan-4 by 2027, to collect moon samples and demonstrate return technology.<\/li>\n\n\n\n<li>Venus Orbiter Mission (VOM) by 2028, to study Venus.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong><a href=\"https:\/\/www.nextias.com\/ca\/current-affairs\/07-04-2023\/indian-space-policy-2023\" data-type=\"link\" data-id=\"https:\/\/www.nextias.com\/ca\/current-affairs\/07-04-2023\/indian-space-policy-2023\">Indian Space Policy, 2023<\/a>:<\/strong> Ensures a level playing field for Non-Government Entities (NGEs) in space activities.<\/li>\n\n\n\n<li><strong>SpaceTech Innovation Network (SpIN)<\/strong>: SpIN is a one-of-its-kind public-private collaboration for start-ups and SMEs in the space industry.<\/li>\n\n\n\n<li><strong>Under the amended FDI policy,<\/strong><strong>100% FDI is allowed <\/strong>in the space sector.\n<ul class=\"wp-block-list\">\n<li>Up to 74% (Automatic route) for satellite-related activities; beyond that, government route.<\/li>\n\n\n\n<li>Up to 49% (Automatic route) for launch vehicles and spaceports; beyond that, government route.<\/li>\n\n\n\n<li>100% (Automatic route) for manufacturing components and sub-systems for satellites and ground\/user segments.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large is-resized\"><img data-dominant-color=\"f9f9f9\" data-has-transparency=\"false\" loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"1009\" src=\"https:\/\/wp-images.nextias.com\/cdn-cgi\/image\/format=auto\/ca\/uploads\/2025\/09\/challenges-in-space-economy-1024x1009.webp\" alt=\"challenges in space economy\" class=\"not-transparent wp-image-53650\" style=\"--dominant-color: #f9f9f9; width:386px;height:auto\" srcset=\"https:\/\/wp-images.nextias.com\/cdn-cgi\/image\/format=auto\/ca\/uploads\/2025\/09\/challenges-in-space-economy-1024x1009.webp 1024w, https:\/\/wp-images.nextias.com\/cdn-cgi\/image\/format=auto\/ca\/uploads\/2025\/09\/challenges-in-space-economy-300x296.webp 300w, https:\/\/wp-images.nextias.com\/cdn-cgi\/image\/format=auto\/ca\/uploads\/2025\/09\/challenges-in-space-economy-768x757.webp 768w, https:\/\/wp-images.nextias.com\/cdn-cgi\/image\/format=auto\/ca\/uploads\/2025\/09\/challenges-in-space-economy-1536x1514.webp 1536w, https:\/\/wp-images.nextias.com\/cdn-cgi\/image\/format=auto\/ca\/uploads\/2025\/09\/challenges-in-space-economy.webp 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n<\/div>\n\n\n<h2 class=\"wp-block-heading\"><strong>Way Ahead<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Private entities are now actively involved in crucial aspects of research, manufacturing, and fabrication of rockets and satellites, fostering a vibrant ecosystem of innovation.&nbsp; It is expected to integrate Indian companies into global value chains.&nbsp;<\/li>\n\n\n\n<li>With this, companies will be able to set up their manufacturing facilities within the country, duly encouraging &#8216;<strong><a href=\"https:\/\/www.nextias.com\/ca\/current-affairs\/26-09-2024\/10-years-of-make-in-india\" data-type=\"link\" data-id=\"https:\/\/www.nextias.com\/ca\/current-affairs\/26-09-2024\/10-years-of-make-in-india\">Make In India (MII)<\/a>&#8216;<\/strong> and &#8216;<strong><a href=\"https:\/\/www.nextias.com\/ca\/editorial-analysis\/17-01-2023\/atmanirbharta-for-new-india\" data-type=\"link\" data-id=\"https:\/\/www.nextias.com\/ca\/editorial-analysis\/17-01-2023\/atmanirbharta-for-new-india\">Atmanirbhar Bharat<\/a>&#8216; <\/strong>initiatives of the Government.<\/li>\n<\/ul>\n\n\n\n<p><strong>Source: ET<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<h3><strong>Context<\/strong><\/h3>\n<li class=\"ms-5\">India&#8217;s space sector is projected to surge from USD 8.4 billion in 2022 to USD 44 billion by 2033, aiming to capture 8% of the global market.<\/li>\n<p><\/p>\n<h3><strong>India\u2019s share in the Space Industry<\/strong><\/h3>\n<li class=\"ms-5\">India\u2019s space economy contributes 2-3% of the global space economy, and this is expected to rise to 8% by 2030 and further to 15% by the year 2047.<\/li>\n<li class=\"ms-5\">With over 400 private space companies, India ranks fifth globally in the number of space companies.<\/li>\n<p><a href=\"https:\/\/www.nextias.com\/ca\/current-affairs\/10-09-2025\/india-space-economy-growth-44-billion-2033\" class=\"btn btn-primary btn-sm float-end\">Read\u00a0More<\/a><\/p>\n","protected":false},"author":15,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-53631","post","type-post","status-publish","format-standard","hentry","category-current-affairs"],"acf":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/53631","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/comments?post=53631"}],"version-history":[{"count":4,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/53631\/revisions"}],"predecessor-version":[{"id":53677,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/53631\/revisions\/53677"}],"wp:attachment":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/media?parent=53631"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/categories?post=53631"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/tags?post=53631"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}