IN-SPACe Chairman Dr Pawan K Goenka on Tuesday said the projected $44-billion space economy by 2033 would not be built by startups alone, and urged investors to view the sector as a long-term industrial opportunity.
Speaking on the second day of the India Space Congress-2026, he called on industry stakeholders to look beyond launch services and satellites, and focus on opportunities in components, ground infrastructure, maritime applications and the defence sector.
“Technology risks have fallen sharply; what remains are production-scale and demand-side risks — precisely the challenges that informed, patient capital is designed to address. We have created the building blocks for talent, innovation and industry growth. I urge industry stakeholders to offer internships generously, recruit from programmes, co-design curricula, engage resident experts in space laboratories and make full use of the IN-SPACe Tech Centre. Invest in each other,” he said.
He added that India was not building a closed ecosystem, but creating capabilities for the world.
Highlighting the growing importance of international collaboration, Christian Biever, Ambassador of Luxembourg to India, underscored the value of partnerships in shaping the future global space economy and reaffirmed Luxembourg’s commitment to deepening cooperation with India.
