Shashwat Goenka urges private investment to build $44 bn Indian space economy

Shashwat Goenka, a prominent Indian business figure, said in an interview with Fortune India that the country’s goal of a $44 billion space economy cannot be realised through government funding alone. He stressed that attracting sizable private capital and building specialised capabilities are essential to scale the sector.
He pointed to global examples where commercial firms drive satellite launches, launch‑service markets and downstream applications, arguing that India must follow a similar model of public‑private partnership.
Goenka noted that while ISRO provides a strong launch platform, expanding to a $44 bn market will need venture funding, private R&D, and supportive policies such as clear regulations and fiscal incentives.
His comments coincide with the Indian government’s draft National Space Policy, which seeks to increase private participation and create a conducive ecosystem for space‑related startups.
Analysts say that a thriving private space industry could generate thousands of high‑skill jobs and boost export earnings, provided the required capital flows materialise.