23 August,2026 12:30 PM IST | New Delhi | mid-day online correspondent
Over the past three years, from July 2023 to June 2026, India successfully completed 12 launch vehicle missions, carrying 11 national satellites and nine satellites for international customers. Representational pic
India's space economy has reached USD 9 billion and is projected to grow to USD 40-45 billion over the next decade, driven by a robust startup ecosystem, and policy reforms, according to the latest government data.
As India marked National Space Day on Sunday, the country's space ecosystem has expanded rapidly, with the number of registered space startups rising from one in 2014 to around 440 in 2026 (till August), news agency IANS reported.
Private investment in India's space sector has surged nearly six-fold, rising from USD 100.5 million in 2021-22 to USD 618.5 million by March 31, 2026. Of this, USD 187 million was recorded during 2026 alone.
By mid-2026, 113 authorisations had been granted to 52 non-government entities (NGEs), of which 18 are startups, for satellite operations, payload establishment, and launch services, according to official data.
India opened its space sector to private participation in 2020, enabling industry and startups to operate across satellites, launch systems, and space applications.
This marked a major shift towards building a broader national space ecosystem.
The Indian Space Policy 2023 further expanded private participation across the space value chain. It also defined the roles and responsibilities of NewSpace India Limited (NSIL) and the Indian National Space Promotion and Authorisation Centre (IN-SPACe), said an official statement.
NSIL, the commercial arm of ISRO, provides launch, satellite and space-based services and transfers ISRO technologies to Indian industry.
Its revenue rose from Rs 321.77 crore in FY 2021-22 to over Rs 3,000 crore in FY 2024-25, reflecting the growing commercialisation of India's space programme.
IN-SPACe enables private space activities through a single-window mechanism. It facilitated 71 ISRO technology transfers to industry and startups as of January 31, 2026.
Moreover, foreign direct investment (FDI) rules for the space sector were liberalised in February 2024. Up to 74 per cent FDI is permitted automatically for satellite manufacturing and operations, 49 per cent for launch vehicles and spaceports, and 100 per cent for satellite and ground-segment components.
Targeted financing is also strengthening India's private space ecosystem. The IN-SPACe Seed Fund Scheme supports early-stage space startups, the Rs 1,000 crore Venture Capital Fund provides growth capital, and the Rs 500 crore Technology Adoption Fund enables wider deployment of space technologies.
Further, the Satellite Bus as a Service (SBaaS) Scheme has been allocated Rs 75 crore to support the development of satellite bus capabilities.
Over the past three years, from July 2023 to June 2026, India successfully completed 12 launch vehicle missions, carrying 11 national satellites and nine satellites for international customers.
(With IANS inputs)
