India’s space economy targeted to reach USD 44 billion by 2033
New Delhi, Oct 29 (TNT) : India is advancing next-generation space technologies, including reusable launch vehicles, electric propulsion, autonomous space docking and advanced satellite systems, with the country’s space economy targeted to reach USD 44 billion by 2033.
The developments are expected to strengthen India’s self-reliance in space technology, expand private-sector participation and create new opportunities for innovation, investment and industrial growth.
These technologies will be among the key focus areas at the Space Science and Technologies thematic session of the Emerging Science, Technology and Innovation Conclave (ESTIC) 2026, organised by the Department of Space and ISRO on Thursday at Bharat Mandapam in New Delhi.
The second edition of ESTIC is being held from October 27 to 29.
India’s organised space programme began in 1962 with the establishment of the Indian National Committee for Space Research (INCOSPAR) under the vision of Dr Vikram A. Sarabhai.
ISRO was established in 1969 and brought under the Department of Space in 1972, pursuing a development-oriented approach focused on applying space technology to national needs.
India’s space infrastructure now supports communications, weather forecasting, agriculture, disaster management, environmental monitoring, navigation and national security.
A major development is the proposed Next Generation Launch Vehicle (NGLV), approved by the Union Cabinet in September 2024 with an outlay of Rs 8,240 crore. Designed to carry payloads of up to 30 tonnes to low Earth orbit, the vehicle is expected to significantly enhance India’s launch capacity.
A partially reusable variant with a 14-tonne payload capability is also being developed to reduce launch costs.
ISRO has also demonstrated autonomous runway-landing technologies through its Pushpak reusable launch vehicle technology demonstrator.
The three landing experiments conducted between April 2023 and June 2024 validated key technologies required for recovering and reusing launch vehicle components.
In propulsion technology, ISRO is advancing indigenous electric and green propulsion systems.
It completed a 1,000-hour life test of its 300-millinewton stationary plasma thruster in March 2025.
The technology is intended for future satellites requiring efficient orbit-raising and station-keeping capabilities.
India has also made progress in in-space operations.
ISRO’s Space Docking Experiment (SpaDeX) demonstrated satellite docking in January 2025, followed by further docking tests and bidirectional power transfer in April 2025. These capabilities are important for future space station operations, crewed missions and lunar sample-return programmes.
In navigation and communications, India’s NavIC regional satellite navigation system provides positioning, navigation and timing services across the country and up to 1,500 km beyond the Indian mainland.
Communication satellites, including GSAT-N2, are supporting broadband and in-flight connectivity, while dedicated satellites serve defence requirements.
Earth observation is another key area of development.
The NASA-ISRO Synthetic Aperture Radar (NISAR) mission, launched in July 2025, uses two radar frequencies to monitor changes in the Earth’s surface, including ground deformation, glacier movement, vegetation and soil moisture. Such data can support climate research, natural-resource management and disaster response.
The space sector is also attracting private investment.
NewSpace India Limited (NSIL) has signed 118 technology transfer agreements covering 83 ISRO-developed technologies for transfer to Indian industry. Investment in Indian space start-ups reached approximately USD 618.5 million as of March 31, 2026.
The expanding ecosystem of launch systems, satellite technologies, propulsion and in-orbit operations is expected to strengthen domestic capabilities while positioning India for a larger role in the global space economy.
TNT KM
