Space

India’s space sector is undergoing a historic transformation from a government-led program to a dynamic, innovation-driven ecosystem with growing private and global collaboration. Building on its legacy of technological milestones such as Chandrayaan-3’s soft landing at the lunar South Pole and the Aditya-L1 solar mission, India is now positioning itself as a cost-competitive, end-to-end space solutions hub. Between 2015 and 2024, India launched 393 foreign and 3 domestic commercial satellites, generating nearly $439 Mn in foreign exchange. These successes reflect ISRO’s proven reliability and efficiency and mark India as an increasingly important player in the global commercial launch market.

Recent policy reforms, particularly the Indian Space Policy 2023 and institutional mechanisms like IN-SPACe, have catalysed a surge in private participation. The Earth Observation Public-Private Partnership (EO-PPP) is a landmark initiative that entrusts private industry with end-to-end satellite design, development, and operations. A consortium led by Pixxel, with partners such as PierSight Space, SatSure, and Dhruva Space, will deploy a 12-satellite EO constellation under a ₹1,200 Crore PPP, marking India’s first private-led EO network. In parallel, ISRO’s SSLV technology transfer to Hindustan Aeronautics Limited (HAL) under a ₹511 crore agreement and the HAL–L&T consortium’s private PSLV project represent strategic steps toward commercialising India’s launch vehicle capabilities.

Together, these developments signal India’s evolution into a globally competitive space economy, projected to reach $44 Bn by 2033, with exports of $11 Bn. The ecosystem is now expanding beyond ISRO’s core missions into private satellite manufacturing, launch services, data analytics, and space-based applications for agriculture, infrastructure, and national security. By combining technological depth, policy clarity, and public-private collaboration, India is set to become one of the world’s most vibrant commercial space ecosystems, leveraging reforms, innovation, and partnerships to capture a larger share of the global space market.