India's space economy projected to reach $45 billion by 2030

India’s space sector is projected to reach a valuation of $40 billion to $45 billion by 2030, according to a report from The Guardian. This growth follows policy reforms, such as the Indian Space Policy 2023, which have transitioned the industry from a government-centric model to a collaborative ecosystem involving private firms, academia, and research centers.

The reforms have allowed private companies to engage in end-to-end activities, including satellite manufacturing, launch services, remote sensing, and space-based communications. To facilitate this, the government has redistributed roles among the Indian Space Research Organisation (ISRO), the Indian National Space Promotion and Authorisation Centre (IN-SPACe), and NewSpace India Limited (NSIL). IN-SPACe specifically assists private players by providing access to testing facilities, launch infrastructure, and ISRO-developed technologies.