India poised to expand its share in global space economy: Report

New Delhi, Sep 8 (IANS) India is poised to expand its share in the global space economy from the current 2 per cent to about 8 per cent over the next decade, according to a new report on Monday.

The report released by KPMG in India-CII at the ‘International Conference on Space 2025’ stated that India’s space economy is set for a transformational growth.

The country's space sector is undergoing a paradigm shift, evolving from an innovation-led frontier to mainstreaming space-based services across governance, development, and strategic domains.

“With the global space economy expected to expand from $596 billion in 2024 to $1.8 trillion by 2035, the Indian space economy is expected to grow its share fourfold from currently about 2 per cent to nearly 8 per cent over the next decade,” it stated.

The report outlined how space-based assets with services and data from Earth Observation (EO), Satellite Communication (SatCom), and Navigation (PNT) technologies are becoming essential enablers of governance, economic growth, and security through integration into national workflows, catalysing India’s journey toward a service-oriented space economy.

“India stands at a pivotal juncture in its space journey. The foundations built over decades are now enabling a leap towards scale, integration, and global leadership,” said Gaurav Mehndiratta, Partner and National Head - Aerospace, Defence and Space, KPMG in India.

"Realising this potential will require coordinated action across policy, industry, and academia to foster innovation, build resilient infrastructure, and connect space capabilities with diverse user communities," Mehndiratta added.

The report also positioned Digital Public Infrastructure (DPI) as a critical enabler, connecting space-based data seamlessly with governance platforms, financial ecosystems, and diverse user applications.

It underscored the importance of platform interoperability and SatCom-based redundancy to ensure service continuity in remote and disaster-prone regions. These priorities are essential to scaling adoption and embedding EO, SatCom, and PNT as defaults across flagship missions and public service delivery.

Downstream services are becoming central to governance, resilience, and strategic operations, with EO and SatCom supporting flagship missions such as PM Gati Shakti and Ayushman Bharat.

Strategic segments such as defence, disaster response, and governance set the benchmark for mission-grade applications, while international collaboration positions India as both a contributor and regional enabler.

“India’s downstream space ecosystem is evolving into a foundational pillar of national development. By embedding space-based services into core governance and strategic workflows, and aligning policy with mission needs, India is poised to expand its global share and shape the future contours of the international space economy,” the report said.

--IANS

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