Speaking at a media roundtable titled “Space, Sovereignty and New Economy”, organised by the Bloomberg New Economy Forum in New Delhi, Singh said India must move beyond demonstrating technological capabilities and focus on transforming them into commercially successful enterprises capable of competing in international markets.
The Minister emphasised that the next phase of growth would depend on creating sustainable businesses, expanding private-sector participation and strengthening India's position in the global space industry.
India’s Space Sector Reforms Open Doors to Private Enterprises
Singh highlighted the opening of India’s space sector to private participation in 2019–2020 under the leadership of Prime Minister Narendra Modi. He said the reforms had delivered significant results within five to six years by enabling private companies to work alongside established government institutions.
He said the focus must now shift towards expanding private enterprises and helping them establish sustainable businesses in domestic and international markets.
According to the Minister, translating technological progress into commercial success will require a supportive policy environment, reliable demand and opportunities for companies to develop and market their products.
Predictable Demand and Faster Approvals Key to Industry Growth
Singh identified predictable demand as one of the most important requirements for scaling up private space enterprises. He highlighted the government’s use-case-based approach, under which government agencies can act as anchor customers and support proof-of-concept projects.
Such opportunities allow start-ups and private companies to demonstrate their technologies, validate their solutions and move towards commercial deployment. A reliable customer base can also encourage businesses to invest in production, develop market-ready products and establish sustainable revenue streams.
The Minister also called for faster regulatory approvals and more efficient business processes. He said companies applying for installation or export licences should receive the necessary approvals within defined timeframes.
Referring to GST-related measures for space products, Singh stressed that policy reforms must translate into practical benefits for the industry. He noted that sustained investment would depend on predictable demand, efficient processes and a clear pathway to commercial growth.
Private Investment and Global Partnerships to Strengthen Space Capabilities
Singh said India was opening up opportunities for greater private capital and international partnerships while continuing to strengthen its indigenous space capabilities.
Increased investment can support technology development, advanced manufacturing, supply-chain expansion and access to overseas markets. At the same time, domestic technological capabilities remain important for national security and strategic autonomy.
The Minister called for stronger collaboration between Indian government institutions and private enterprises, supported by partnerships with international counterparts. Such cooperation can help Indian companies integrate into global supply chains, reach new customers and participate more actively in the expanding international space market.
Space Technology Expands Applications Across Key Sectors
Highlighting the broader economic value of the space sector, Singh said India’s space programme was contributing not only to achievements in space but also to development on Earth.
Satellite communications, geospatial applications and Earth observation technologies are increasingly being used in infrastructure development, project monitoring, agriculture, disaster management and defence.
In infrastructure development, space-based technologies support project clearances and the monitoring of implementation timelines. Geotagging helps improve the tracking and monitoring of development works, while satellite-based information supports agricultural activities.
Space-based information also strengthens disaster preparedness and response. Singh highlighted regional cooperation in providing space-based information and disaster-management support to neighbouring countries, including Myanmar, Bangladesh and Sri Lanka.
Commercial applications are expanding opportunities in satellite data, geospatial services and other downstream technologies. The Minister said these applications demonstrate how investments in space technology can improve public services, support development and create new commercial opportunities.
He added that downstream services, data-driven solutions and industrial applications would play an important role in expanding the market for Indian space companies, alongside satellite manufacturing and launch vehicles.
Bloomberg New Economy Forum Roundtable Examines Space Industry Challenges
The roundtable brought together representatives from the space industry, entrepreneurship, academia and the international space community to discuss the future of the global space economy.
Other prominent participants included Vinod Kumar, Director (Promotion) at the Indian National Space Promotion and Authorisation Centre (IN-SPACe), and Aisha Bowe, founder and CEO of STEMBoard and LINGO, a former NASA engineer and Blue Origin astronaut.
The discussion examined ways to attract private capital, strengthen supply chains, expand international partnerships and address the challenges faced by private space companies as they scale up their operations.
Participants also explored how countries could safeguard their strategic interests while enabling commercial growth and greater private-sector participation.
India Targets Globally Competitive Space Enterprises
Singh emphasised the importance of adapting policies as technology advances and industry requirements evolve. He said opening the space sector to private participation reflected the benefits of allowing new players to contribute alongside established public institutions.
India’s next phase of space-sector growth will depend on converting its technological strengths into commercially viable enterprises. Increased investment, predictable demand, efficient regulatory processes, stronger domestic capabilities and international cooperation will be critical to this transition.
With the country’s space economy projected to grow from around USD 9 billion to USD 40–45 billion over the next seven to eight years, India is seeking to expand its role in the global space market while supporting innovation, industrial development and strategic autonomy.
About The Author
Comment List