Prime Minister Narendra Modi has said India can become a global space leader by building a strong private-sector ecosystem capable of attracting talent and investment.
Speaking to CEOs and founders of 20 private space companies, Modi highlighted India’s cost competitiveness and large talent pool, urging the industry to make the country a global hub for space start-ups.
India opened the space sector to private players in 2020, covering satellites, launch systems and space applications. Since then, the number of private space start-ups has grown from one in 2014 to 440, according to the government. The Indian Space Policy 2023 further widened private participation across the sector.
Modi said the government’s consistent policies had helped build confidence among entrepreneurs entering India’s space sector. He noted that the $600-billion global space industry currently accounts for about $9 billion in India, with the government targeting $40–45 billion over the next decade.
Private investment in the sector has also risen nearly six-fold, from $100.5 million in 2021-22 to $618.5 million by March 2026. Modi highlighted India’s cost competitiveness, skilled workforce and growing risk-taking culture.
Industry leaders including Skyroot Aerospace, Agnikul Cosmos, Pixxel, Dhruva Space and GalaxEye discussed plans ranging from satellite servicing and refuelling to space-based manufacturing and advanced propulsion. They also highlighted growing international contracts and opportunities in areas such as agriculture and global ground-station networks.
