India minister projects a $40–45 billion space economy in seven to eight years
India’s space economy, valued at about $9 billion, could reach $40–45 billion within seven to eight years, a government minister said.
Event / data period: 2026-10-17
Published: · Updated:
Science and Space Minister of State Jitendra Singh gave the projection at a Bloomberg New Economy Forum roundtable in New Delhi on 17 October. It is a minister’s outlook for the sector, not a reported outcome or independently measured forecast.
Singh said private-sector growth would depend on predictable government demand, faster regulatory approvals, investment and sustainable business models. He said the next priority after opening the sector to private participation was turning technical capability into commercial companies able to compete in global markets.
Data
Space economy outlook
Figures stated by Minister of State Jitendra Singh and reported by PIB on 17 October 2026.
- Current estimated economy value
- ≈9 billion USD
- 2026-10-17 · Estimate
- Minister’s seven-to-eight-year projection — lower bound
- ≥40 billion USD
- 2026-10-17 · Forecast
- Minister’s seven-to-eight-year projection — upper bound
- ≤45 billion USD
- 2026-10-17 · Forecast
Methodology
The $9 billion figure is an estimate of current value; $40–45 billion is the minister’s projection for seven to eight years. The release gives no target year or modelling method.
Updated:
Subjects and places
Subject proposals
- Science and technologySuggested
- Preserved editorial category/topic; broad candidate onlywww.pib.gov.in ↗
Geographic references
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- India · Place role: Coverage · Place type: Country or area · Location precision: RegionalEvidence
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