What Sitharaman can do to fund India’s ambitious space plans in Budget 2024 as it aims to eclipse global giants

If Chandrayaan-3 and Aditya L1 exemplify India’s advancing space capabilities, the nation’s aspiration to establish its equivalents of SpaceX and Blue Origin reflects its broader ambitions in the space industry. With strategic plans to leverage China and Russia’s geopolitical isolation, India aims to secure a larger share of the global space market. Industry stakeholders and investors are keenly observing the Union Budget 2024 to see how the government, a significant consumer of space technology, plans to stimulate demand and drive growth in this sector.

There are expectations that the Centre, as a major consumer of space-based services, could provide clear commitments and roadmaps for the procurement and usage of space services in the upcoming Budget.