India is advancing a long-term plan to strengthen its presence in space as part of its goal to become a developed economy by 2047, as per a Bloomberg report.
The government is shifting from milestone missions to a deeper strategy built around human spaceflight, commercial expansion, and private investment.
The focus now is on creating the conditions for a sustained lunar presence and a larger share of the global space market, supported by a rapidly growing startup ecosystem and new funding for deep-technology research.
As global competition intensifies, India is positioning itself for a more influential role in the space economy.
Space station plans intensify
As per the report, India’s timeline now includes the Bharatiya Antariksh Station by 2035 and a target of landing its own astronauts on the moon by 2040.
These developments place India on almost a parallel track with countries such as China, which operates a space station and plans to send astronauts to the moon by 2030.
The shift signals an intention to move beyond single-mission achievements and instead build a lasting human presence in space.
The update was shared during an interview with Bloomberg in Panchkula on Saturday, about 260 kilometres from New Delhi, where the country’s space minister outlined the plans.
Private investment fuels rapid expansion
India’s space economy has grown to about $8 billion after the sector opened to private participation, and projections suggest it could reach $40–45 billion within the next eight to ten years.
This expansion is expected to be driven by around 400 active space startups involved in satellite manufacturing, launch services, and space-based data analytics.
The government is using this momentum to scale the sector further, aligning with the Prime Minister’s broader push to develop deep-technology industries.
The move is aimed at reducing dependence on public-sector funding and creating new commercial pathways within the space ecosystem.
Global market ambitions rise
India aims to increase its share of the global commercial space market to 8% to 10% over the next decade, compared with less than 2% today, notes Bloomberg.
ISRO Chairman V Narayanan outlined this goal in August as part of the agency’s expansion strategy.
India’s recent achievements have strengthened its position, including its 2023 milestone as the first nation to land a robotic spacecraft near the moon’s south pole.
ISRO is also preparing for its first crewed mission in early 2027, which will demonstrate readiness for sustained human operations in low Earth orbit and support future lunar objectives.
To support these ambitions, the government announced a 1 trillion rupee Research, Development and Innovation Scheme last month.
The initiative will provide concessional financing for private-sector deep-tech projects with a Technology Readiness Level of 4 or above, meaning the work is closer to market deployment.
Oversight lies within the Prime Minister’s Office, which manages portfolios including Science, Space, and Atomic Energy.
The goal is to accelerate advanced research and create the technological base needed for India’s long-term presence in space, including lunar exploration and new commercial applications.
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