India’s next phase of space growth will depend not only on building and launching space assets, but also on converting space-based capabilities into commercial services, industrial depth, strategic resilience and economy-wide impact.According to a joint report released by EY and the Confederation of Indian Industry (CII), titled “From escape velocity to value: Innovate, govern and grow”, the country’s space economy is projected to expand significantly over the next decade.
The sector is estimated to grow from Rs 0.81 lakh crore (USD 8.4 billion) to Rs 4.22 lakh crore (USD 44 billion) by 2033. This expansion is supported by policy reforms, rising private investment, growing startup activity, wider adoption of space-enabled applications, and an increasing global demand for cost-effective space services.
