Private space sector booming, over 300 startups active, says Economic Survey

The Economic Survey 2026 was released on January 2026

India’s space sector has seen a sharp rise in participation from private entities, with more than 300 startups now operating in the segment, the Economic Survey 2026, released on January 29, has said.

The survey attributed the growth to the Space Sector Reforms of 2020 and the Indian Space Policy 2023, which created a formal framework for non-government entities (NGEs) to undertake activities alongside the Indian Space Research Organisation (Isro).

The Indian Space Promotion and Authorisation Centre (IN-SPACe) has emerged as the single-window agency to authorise and regulate private sector participation, the survey said .

The government has backed the ecosystem with dedicated funding mechanisms. In October 2024, the cabinet approved a  Rs 1,000-crore venture capital fund under IN-SPACe to support space startups, followed by the launch of a Rs 500 crore Technology Adoption Fund in February next.

In the startups sector, Skyroot Aerospace and Agnikul Cosmos have conducted successful sub-orbital launches in 2023 and 2024, respectively. Several startups, including Pixxel Space, Azista, Hex20 and TakeMe2Space, have successfully launched satellites, the survey said.

More than 70 technologies have been transferred from Isro to private industry, helping firms scale up production and enter commercial markets, it said, adding foreign investment norms have also been liberalised.

The survey positions private participation as central to India’s long-term space ambitions under Space Vision 2047, which includes the Bharatiya Antariksh Station by 2035 and a crewed lunar mission by 2040.

Upcoming missions such as Chandrayaan-4, Chandrayaan-5/LUPEX, the Venus Orbiter Mission and the Next Generation Launch Vehicle will create further opportunities for industry collaboration and technology development.

The Economic Survey 2025–26, prepared under the supervision of chief economic adviser V Anantha Nageswaran, was tabled in Parliament by finance minister Nirmala Sitharaman.