On National Space Day, August 23, 2025, PM Modi delivered a strong and inspiring message to India’s private space companies and startups, laying out two bold targets for the coming five years:
- To increase India’s rocket launches from the current 5–6 per year to 50 launches annually—roughly one rocket every week.
- To foster the creation of at least five unicorn startups valued over $1 billion in the space sector.
PM Modi’s call underlined the government’s full support for innovators, aiming to position India as a global hub for space technology and exploration.
Watch his full message on Twitter:
Celebrating India’s Recent Space Achievements and Future Missions
The Prime Minister also celebrated India’s recent milestones:
- The historic landing of Chandrayaan-3 near the Moon’s South Pole.
- Technological advances such as semi-cryogenic engines and electric propulsion systems.
Looking ahead, India’s ambitious space program includes upcoming missions like Gaganyaan (India’s first human spaceflight), Chandrayaan-4, a Venus Orbiter, and the Bharatiya Antriksh Station (India’s own space station), with the first module expected by 2028 and full operations by 2035.
Private Sector’s Growing Role in Space Technology and Governance
Space technology now supports much more than scientific discovery—it plays a vital role in governance and everyday life. Satellites enable services like crop insurance, disaster management, fishermen safety, and the PM Gati Shakti infrastructure plan.
Over 350 Indian space startups are actively developing cutting-edge technologies in satellite launches, propulsion, and advanced research, marking the private sector’s increasing footprint in this crucial domain.
Indian Space Startups Poised for Global Recognition
India’s deep-tech startups are gaining global attention. In 2025, the World Economic Forum named 10 Indian companies as “Technology Pioneers,” several of which are from the space sector, showcasing India’s rising leadership in space innovation.
Funding Trends: Challenges and Government Support
Though India’s space sector is rapidly growing, private funding has experienced ups and downs:
- In 2024, investment in space startups dropped 55%, from $130 million to about $59 million.
- To support growth, the government approved a ₹10 billion ($119 million) fund in October 2024 to back nearly 40 space startups.
- ISRO’s budget for rocket launches and deep-space missions is expected to rise by 20–30% in the coming years, signaling strong government commitment.
Startups to Watch in India’s Space Race
Several private companies are making significant strides:
- Pixxel (Bengaluru): Developing hyperspectral imaging satellites with a “Fireflies” satellite constellation; raised $95 million.
- Skyroot Aerospace: Makers of Vikram-S, India’s first privately built rocket to reach space.
- Bellatrix Aerospace: Innovators in eco-friendly electric propulsion, collaborating with ISRO.
- Satellize: India’s first private satellite launch company, with multiple successful missions since 2018.
Check out: PM Modi Meets Astronaut Shubhanshu Shukla, Discusses Upcoming Gaganyaan Mission
India’s Space Economy: Rapid Growth and Global Standing
India’s space economy is expanding fast:
- Between 2014 and 2024, it contributed nearly $60 billion to GDP, creating 96,000 direct jobs and 4.7 million indirect jobs.
- In 2023, India ranked as the 8th-largest space economy, valued at $6.3 billion, expected to cross $13 billion by 2025.
- By 2033, analysts predict the sector could be worth over $44 billion, with private companies leading the charge.
Connecting the Dots: Diplomacy and Digital Innovation
PM Modi’s recent meeting with Chinese Foreign Minister Wang Yi comes in the backdrop of India’s growing ambitions in strategic sectors like space. Stable diplomatic ties with neighboring China can create a balanced environment for peaceful competition and cooperation in technology and innovation.
Meanwhile, India’s digital culture is evolving rapidly. TikTok, which pioneered short-video content, was India’s largest overseas market before being banned in 2020 due to geopolitical tensions. The space for Indian short-video apps and global alternatives like Instagram Reels has since grown, reflecting India’s adaptability amid changing global landscapes.
Final Thought: India’s Bold Leap Toward the Stars
PM Modi’s vision of launching one rocket every week and nurturing five space unicorns in five years is ambitious but within reach. With a vibrant startup ecosystem, increased government funding, global recognition, and strategically planned mega-missions, India is well on its way to becoming a global leader in space exploration and technology innovation.
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