India’s space economy is currently valued at $8 billion with a share of 2–3% in the global space economy, with target to be at 8% by 2030.
Key Reforms in India's Space Sector
- Private Sector participation: The opening of the space sector for private players in 2020, followed by the Indian Space Policy 2023, enabled greater private participation across the space value chain.
- NewSpace India Limited (NSIL), established in 2019, and IN-SPACe established in 2022, have created a strong institutional framework for industry participation, technology transfer, and private investment.
- Liberalised FDI Policy for Space: The revised policy permits up to 74% automatic FDI in satellite manufacturing and operations, 49% automatic FDI in launch vehicles and spaceports, and 100% automatic FDI in the manufacturing of satellite components and subsystems.
- Self-Reliant Space Transportation: Government has approved the development of a Next Generation Launch Vehicle (NGLV) which will provide a maximum payload capability of 30 tons to Low Earth Orbit.
- Others: IN-SPACe Seed Fund Scheme, the Pre-incubation Entrepreneurship Programme, the ₹1,000 crore Venture Capital Fund and the₹500 crore Technology Adoption Fund have strengthened the ecosystem.
Key achievements enabled by space sector reforms
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