Commercialisation, PPP to foster rapid expansion of space services: Eco Survey

New Delhi: India’s space sector has emerged as a fast-growing, technology-intensive and increasingly commercial segment of the services economy. Valued at $8.4 billion (around 2% of the global space market), it is projected to expand to $44 billion over the next decade, driven by launch services, satellite communications, earth observation, navigation and a rapidly growing private ecosystem, according to the Economic Survey 2025-26.Commercial launches have become a key export source, with India launching 393 foreign satellites for 34 countries between 2015 and 2024. This has earned nearly $143 million (US launches) and Euro 272 million (European launches), reflecting the country’s cost-effective and reliable capabilities. Commercialisation has been strengthened through Isro’s commercial wing NSIL, whose revenues rose from Rs 322 crore in FY20 to Rs 2,940 crore in FY23, with the figure projected to rise to Rs 3,246 crore in FY25. Satellite-enabled services are expanding rapidly, with India’s satellite data services market valued at $495 million in 2024, the survey said.India currently operates 56 active space assets. 2025 has witnessed significant achievements for India’s space programme, characterised by indigenous technological breakthroughs and expanded global footprint.India became the fourth nation to achieve autonomous satellite docking via the SpaDeX (Space Docking Experiment) mission. Additionally, the GSLV-F15 with indigenous cryogenic stage launched the NVS-02 satellite on Jan 29, 2025, marking the 100th lift-off from Sriharikota. Global collaboration reached new heights with the successful completion of the Axiom-04 mission in July 2025. This synergy was further reinforced by the launch of Nasa-Isro NISAR mission in July 2025. In Dec 2025, the LVM3-M6 vehicle successfully injected the US’s BlueBird Block-2 communication satellite in the intended orbit, it said.Aligned with India’s Space Vision 2047, the govt has set ambitious targets. It has approved five key projects: Gaganyaan follow-on mission, which will pave the way for the establishment of the first module of Bhartiya Antariksh Station; Chandrayaan-4 lunar sample return mission; Chandrayaan-5/LUPEX mission; Venus Orbiter Mission; and development of Next Generation Launch Vehicle.Enhancing Private Participation in Space Sector:Space Sector Reforms of 2020, followed by Indian Space Policy–2023, have created a structured and forward-looking framework to enable private-sector participation and enhance India’s role in the global space economy. Recent achievements and key initiatives to promote private participation in the sector include:* Emergence of 300+ space startups contributing to innovations across space technologies and services* IN-SPACe functioning as a single-window agency to promote, regulate and authorise activities of Non-Governmental Entities (NGEs), ensuring streamlined governance* Liberalised FDI policy, allowing up to 100% foreign investment through automatic route in less sensitive categories, with graded caps (up to 74% or 49%) for sensitive segments* Cabinet approved Rs 1,000 crore venture capital fund under IN-SPACe in Oct 2024 and launched a Rs 500-crore Technology Adoption Fund in Feb 2025 to accelerate space startups and technology-led growth. Successful sub-orbital launches were done by companies such as Skyroot Aerospace and Agnikul Cosmos in 2023 and 2024, respectively* Successful launch of satellites by NGEs such as Pixxel Space, Azista, Hex20 and TakeMe2Space, indicate rising indigenous capabilities* 70+ technology transfers from Isro to private industry, supporting commercialisation and scale-up* Establishment of a dedicated launchpad and integration facility at Kulasekarapattinam, Tamil Nadu, is under way, which will strengthen India’s launch infrastructure