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India's Space Sector: $1.8T Global Economy Target by 2035
3 Feb
Summary
- India's space sector aims for 8-10% of the global market by 2035.
- Big investors like Singapore's GIC and Temasek are showing interest.
- Over 390 Indian space startups have been registered by IN-SPACe.
By 2035, India's burgeoning space sector is projected to capture 8-10% of the global space economy, estimated at USD 1.8 trillion. This ambitious target was revealed by Dr. Pawan Goenka, Chairman of IN-SPACe, during an investor forum in Singapore.
The growing potential is attracting significant attention from major investors, including Singapore's Government Investment Corp and Temasek. These entities are expected to channel investments into India's expanding space ecosystem.
To foster this growth, the Indian government has established a Rs 1,000 crore capital venture fund and aims to cultivate one space unicorn annually, supported by USD 1 billion in investment. IN-SPACe has already registered over 390 startups and authorized more than 800 companies to participate in space-related activities.
