PM Modi Backs India as Global Space Hub
Prime Minister Narendra Modi has said India can establish itself rapidly as a major global space hub, urging private companies to build an ecosystem capable of attracting international talent, investment and business. His remarks came during an interaction with founders and CEOs of 20 Indian space startups.
PM Modi Backs India as Global Space Hub
Modi said India’s advantages in cost competitiveness, skilled manpower and entrepreneurial risk-taking could help the country expand quickly in the international space industry.
He urged Indian space companies to create an environment strong enough to attract professionals from around the world to build careers with Indian startups and space organisations.
The Prime Minister also stressed policy consistency, saying entrepreneurs investing in capital-intensive sectors need confidence that government decisions will remain stable over the long term.
India Space Startups Rise to 440
India opened the space sector to greater private participation in 2020, allowing companies to expand into satellite manufacturing, launch systems and commercial space applications.
The number of private space startups has since increased sharply, rising from just one in 2014 to around 440 in 2026.
Private investment has also grown substantially, climbing from about $100.5 million in 2021-22 to $618.5 million by March 31, 2026.
India Targets $40-45 Billion Space Economy
India currently accounts for around $9 billion of an estimated $600 billion global space industry. The government is targeting an expansion of India’s space economy to approximately $40-45 billion over the next decade.
Companies including Skyroot Aerospace, Agnikul Cosmos, Pixxel, Dhruva Space and GalaxEye participated in Modi’s interaction.
The startups discussed projects spanning rocket launches, satellite servicing, orbital refuelling, advanced propulsion and space-based applications in agriculture and other sectors.
