India's efforts in space have largely focused on civilian applications for meeting the development needs of the country in accordance with a mandate of peaceful use. The economic value to India from its space assets can be estimated at about $40 billion. Much of the country's vital infrastructure also depends crucially on space. These space assets are increasingly vulnerable to different forms of attack. Recent global developments may see an extension of an arms race into space. This may warrant a re-examination of India's approach. Indian responses to these unfolding events have so far been muted and limited to technology demonstrations of some options. It is unlikely that India will allow international regimes to restrict its options in the domain of space, though what India does will be contingent on regional and global developments.