India’s Space Economy to Reach $44 Billion by 2033, Says Dr Jitendra Singh

Satcom to Drive Universal Connectivity in Rural India, Minister Addresses India Mobile Congress 2025

New Delhi, October 9: India’s space economy is projected to touch $44 billion by 2033, driven by landmark reforms, private participation, and rapid expansion in satellite communication (satcom) services, Union Minister of State for Science and Technology Dr Jitendra Singh said while addressing the “Satcom” session at the India Mobile Congress (IMC) 2025 in New Delhi on Wednesday.

The minister underlined that satellite communication will play a pivotal role in connecting rural and remote areas, strengthening India’s digital infrastructure, and ensuring inclusive growth. “With more than 70 percent of new ATMs being installed in rural areas, satcom will be vital for ensuring financial inclusion and expanding digital services,” Dr Singh said.

Space Economy Accelerating Through Reforms and Private Sector Entry

Highlighting the transformative growth in India’s space ecosystem, Dr Singh noted that the country’s space economy, valued at $8.4 billion in 2022, is poised to expand nearly fivefold over the next decade. He credited the government’s policy reforms—including the creation of New Space India Limited (NSIL) and the establishment of IN-SPACe—for dismantling monopolies and opening the sector to private players.

Over 300 space startups have emerged in just five years, making India the fifth-largest space startup ecosystem in the world. “India’s cost-effective missions and growing partnerships have earned the country an enduring space in the global arena,” he said.

Achievements and Global Recognition

Dr Singh cited India’s record of launching 433 foreign satellites, which has generated over $190 million and €270 million in revenue. He also recalled the success of Chandrayaan-3, which achieved a soft landing near the Moon’s south pole in 2023 at about half the cost of comparable missions worldwide.

“Seventy per cent of our space technology is dedicated to development and ease of living, not just rocket launches,” the minister said, adding that space-based tools are now integral to disaster management, agriculture, forest fire monitoring, and programs like SVAMITVA, which has provided land ownership rights to 2.4 crore rural residents across 1.61 lakh villages through satellite mapping.

India’s Space Roadmap: From Moon to Mission Viksit Bharat

Looking ahead, Dr. Singh outlined India’s long-term vision for space exploration. The government plans to establish the Bharatiya Antariksh Station by 2035 and aims to send an Indian astronaut to the Moon by 2040, coinciding with the national vision of Viksit Bharat 2047. Over the next 15 years, more than 100 satellites—mostly small, privately co-developed payloads—are expected to be launched.

India’s space diplomacy, he added, is expanding through joint missions such as Chandrayaan-5 with Japan and the NASA-ISRO Synthetic Aperture Radar (NISAR) project, while neighboring countries increasingly rely on Indian satellites for disaster and communication support.

Collaboration for a Connected Future

The “Satcom” session featured addresses by Dr Pawan Goenka, Chairman of IN-SPACe, and Dr V. Narayanan, Chairman of ISRO and Secretary, Department of Space, who emphasized that satellite connectivity will be central to achieving universal digital access.

Dr Singh concluded that the convergence of space technology, digital infrastructure, and governance will act as the digital nervous system of Viksit Bharat 2047, ensuring that India not only connects every citizen but also leads globally in the new space age.