The Press Information Bureau released a backgrounder on India’s new-age space technologies, detailing advancements in launch vehicles, in-space operations, and propulsion systems aimed at achieving self-reliance. According to the release, India’s space journey has expanded from early sounding rockets to heavy-lift and reusable systems, supported by initiatives like the Next Generation Launch Vehicle and autonomous docking missions.
The release highlights that the Department of Space has targeted India’s space economy to reach US$44 billion by 2033. Additionally, NewSpace India Limited has signed 118 Technology Transfer Agreements to transfer 83 technologies developed by ISRO to Indian industry, while cumulative investment in Indian space start-ships reached approximately US$618.5 million as of 31 March 2026.
What it means
- The Union Cabinet approved the development of the Next Generation Launch Vehicle with an outlay of ₹8,240 crore.
- India's space economy is targeted to reach US$44 billion by 2033, according to the Department of Space.
- Cumulative investment in Indian space start-ups reached approximately US$618.5 million as of 31 March 2026.
Source
Press Information Bureau, Government of India, “India's New-Age Space Technologies”. Read the original release.
Summary of an official release for general information only. Not investment advice. Read the original source before acting on any information.
Official RBI, SEBI, Government and Defence updates as they happen.
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