The global space economy is projected to surpass USD 1 trillion by 2040, driven by exponential growth in satellite communications, Earth observation, navigation services, defence applications, climate monitoring, and downstream geospatial intelligence. India currently contributes approximately USD 8-10 billion to the global space economy, accounting for nearly 2% of the global market. However, given India’s strengths in engineering talent, cost competitiveness, digital infrastructure, and policy reforms, the country possesses the potential to emerge as one of the world’s leading space economies over the next decade.
The transformation of India’s space ecosystem accelerated significantly after the 2020 space sector reforms, which opened the sector to private participation and established the Indian National Space Promotion and Authorization Center (IN-SPACe). Simultaneously, the liberalisation of geospatial data guidelines in 2021 democratised access to mapping and location-based datasets, creating new opportunities for innovation across governance, agriculture, defence, mobility, logistics, climate resilience, and smart infrastructure.
As of 2025–2026, India contributes approximately 2% of the global space economy, despite possessing internationally recognised technological capabilities :
India’s position is supported by several structural advantages:
1. Cost-efficient engineering and manufacturing capability
2. Mature public-sector institutions and technical expertise
3. Proven launch capabilities
4. Large domestic demand base
5. Expanding startup ecosystem
6. Strength in software, AI, and digital technologies
India’s global credibility has strengthened through major milestones including:
2014 – Mars Orbiter Mission
2017 – Record multi-satellite deployment
2020 – Space sector reforms
2021 – Geospatial policy liberalisation
2023 – Chandrayaan-3 lunar landing
2024 – Enhanced FDI framework for space
Over the next few years, India aims to achieve:
- Uncrewed Gaganyaan test flights
- India's first crewed spaceflight
- Chandrayaan-4 lunar sample-return mission
- Bharatiya Antariksh Station
- Chandrayaan-5 (with Japan), featuring a larger rover for extended lunar exploration
The FICCI Space & Geospatial Committee plays an active role in advancing India's rapidly evolving space and geospatial ecosystem. The Committee brings together leading space companies, geospatial enterprises, government and other stakeholders to foster collaboration, innovation and policy dialogue that strengthens India's global competitiveness.
Aligned with India's vision of becoming a leading space power and leveraging geospatial technologies for national development, the Committee actively promotes industry engagement by facilitating meaningful interactions between industry and key government ministries, departments and agencies to address policy, regulatory and market development issues, while contributing industry perspectives to support the implementation and evolution of India's space and geospatial policy framework.
Team Leader
Akhil Gupta
Director
National Capacity Building Programme on Geospatial Technologies
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Legal Frontiers of Outer Space
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Bharat Space Conclave
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Bharat Space Conclave 2025
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FICCI Geospatial Awards
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FICCI National Geospatial Awards Felicitation Ceremony
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Interactive Session with Maj. Gen. Charles Frank Bolden Jr. (USMC-Ret.), U.S. Science Envoy for Space & Former NASA Administrator
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India-Singapore Space Industry Roundtable Day 2: Panel Discussion on Access to the Capital in the Space Industry
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India-Singapore Space Industry Roundtable
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Conference & Workshop on Disruptive Digital Technologies
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