According to a report by the Confederation of Indian Industry (CII) and KPMG, India’s space sector is expected to grow more than five-fold to $44 billion by 2033. The expansion will be driven by a widening scope of applications and a significant increase in exports.
The report highlights a shift in India’s approach, moving away from traditional space activities focused largely on hardware manufacturing and satellite launches, towards monetising downstream services such as Earth observation (EO), satellite communication (Satcom), and navigation (NavIC). These services are increasingly being embedded across industries including telecommunications, agriculture, disaster management, urban planning, and infrastructure monitoring.
EO satellites like Cartosat and RISAT are already providing critical governance data, while the NavIC navigation system and GSAT communication satellites enable secure connectivity and precision navigation. These services are considered essential in addressing real-world challenges and strengthening national resilience.
Strategically, India aims to expand its share of the global space economy from the present 2 per cent to 8 per cent by 2033, capturing a portion of the worldwide market, which is projected to be valued at $1.8 trillion by 2035.
The report also points to institutional reforms as a major growth driver. The Indian National Space Promotion and Authorisation Centre (IN-SPACe) has centralised demand and procurement processes, creating predictable markets and enabling more efficient use of satellite assets.
From a defence perspective, India is planning significant enhancements in its space-based capabilities, including the launch of 52 dedicated satellites for intelligence, surveillance, and reconnaissance (ISR). Beyond defence, the integration of satellite-enabled services into disaster management, rural development, and wider governance applications is seen as crucial for building resilience and ensuring effective public service delivery.
