New Delhi, July 28: India’s space sector is undergoing a transformative phase, powered by a new generation of innovators and startups that are driving technological advancement and strengthening the country’s global competitiveness, Union Commerce and Industry Minister Piyush Goyal said on Tuesday.
The minister said the government’s reform-oriented approach and increasing private sector participation have unlocked fresh opportunities for entrepreneurs, enabling India to build a vibrant and globally competitive space ecosystem.
Highlighting the rapid growth of space-tech startups, Goyal said Indian companies are making significant contributions across satellite development, launch technologies, space-based applications, and advanced manufacturing. These innovations, he noted, are enhancing India’s capabilities while opening new avenues for investment, exports, and high-value employment.
He said the convergence of policy support, innovation, and industry collaboration has positioned India as an emerging hub for space technology, with startups playing a central role in shaping the sector’s next phase of growth.
Emphasizing the importance of sustained investment in research and development, Goyal said continued collaboration among the government, industry, academia, and startups will be critical to accelerating innovation and expanding India’s presence in the global space economy.
The minister reaffirmed the government’s commitment to fostering an enabling environment for innovation-led enterprises, expressing confidence that India’s fast-growing space ecosystem will serve as a key pillar of the country’s economic growth, technological self-reliance, and global leadership in the years ahead.