The endeavour would make India the third major nation to operate a space station, as the US-led ISS nears its end and China's Tiangong moves into full operation.

On India's maiden human-spaceflight mission, Gaganyaan, Narayanan clarified that only the timeframe for uncrewed missions has shifted.

"Let me make it clear: the uncrewed mission was targeted for 2025. The crewed mission was always planned for 2027, and we are holding on to that date," he said.

Three uncrewed test missions will precede the first flight with Indian astronauts.

He said Prime Minister Narendra Modi has also directed ISRO to work towards sending Indian astronauts to the lunar surface and bringing them back safely by 2040.

India's long-term human-spaceflight plan now aligns it with the world's leading space powers.

The US plans lunar crewed missions under Artemis, while China has set a 2030 target for its first crewed moon landing.

India's share in the global space economy is currently around 2 per cent, and ISRO is working towards increasing it to 8 per cent by 2030, Narayanan said.

India's space economy is currently valued at around USD 8.2 billion and is projected to grow to USD 44 billion by 2033, while the global space economy, he said, stands at about USD 630 billion currently and could reach USD 1.8 trillion by 2035.

He said the space-sector reforms have sharply increased private participation.

Narayanan said more than 450 industries and 330 startups are now active in India's space ecosystem -- a massive rise from just three startups a few years ago.

"We now have a vibrant base ecosystem, and it will grow further," he said.

India's private space industry has accelerated post regulatory reforms in 2020, enabling private rocket development, satellite manufacture and commercial launch services.