Economic Survey: Startups, launch services to drive India's Space economy to $44 billion

India’s space industry is shifting from a government-led programme to a commercial services business, with launch services, satellite data and private startups driving the next phase of growth, according to the Economic Survey 2025-26.

The Survey values India’s space economy at about $8.4 billion, roughly 2% of the global market, and projects it will expand to $44 billion over the next decade, powered by satellite communications, Earth observation, navigation and a rapidly growing private ecosystem.

Commercial launches are already becoming a steady export stream, the Survey noted. Between 2015 and 2024, India launched 393 foreign satellites for 34 countries, earning nearly $143 million and €272 million. The Survey says India’s reputation for reliable and low-cost launches is helping it capture rising global demand for small satellites.

Downstream services are expanding just as quickly, according to the Economic Survey. India’s satellite data services market was valued at $495 million in 2024, driven by applications in defence, climate monitoring, logistics and urban planning.  

Policy reforms are accelerating this shift.

The Indian Space Policy 2023, the operationalisation of regulator IN-SPACe and liberalised foreign direct investment norms have lowered entry barriers for private companies, the Economic Survey said. The Survey says these changes are enabling a move toward a mixed public-private model, turning space into a high-value, export-oriented services sector rather than a purely strategic capability.

Commercial leasing of satellite transponders, global sales of Earth-observation imagery and growing adoption of India’s NavIC navigation system are opening new revenue streams, the Survey noted. 

The Survey also points to opportunities in Earth-system data, combining atmospheric, oceanic and geospatial information, as the next frontier for climate services and disaster management.