New Delhi, March 21 -- India's space sector is undergoing a transformative shift, aiming to expand its global market share from USD 8 billion to USD 44 billion by 2033.

With strong government backing and increasing private-sector participation, the sector is evolving from a state-driven initiative to a commercial powerhouse.

To fuel this growth, the Indian government has sanctioned a Rs 1,000 crore venture capital fund to support space startups. Speaking at the conclave on Adoption of Space Applications for Business Growth, Pawan Goenka, Chairman of IN-SPACe, emphasised the need for scalable business models to meet the rising demand for AI-powered analytics, remote sensing solutions, and next-generation connectivity applications.

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