Budget 2025’s starry aim: Does India need more funds to fuel its cosmic dreams?

economictimes.indiatimes.com:

India Budget: India’s space ambitions are soaring, with the Indian Space Research Organisation (ISRO) positioning itself as a critical player on the global stage. However, as the nation charts its path to becoming a global space superpower, the question remains: Does India need a higher space budget to achieve its ambitious dreams? The answer may be found soon as India gets ready to present its Union Budget for the next fiacal year.

Despite fluctuations in funding, the space sector has contributed significantly to India's economy. Over the past decade, the space sector has generated $60 billion for India’s GDP, creating 4.7 million jobs, including 96,000 in the public and private sectors, according to Socio-Economic Impact Analysis of Indian Space Programme. The sector's contributions are particularly evident in areas such as satellite-based weather forecasting, which benefits millions of farmers and fishermen across the country. ISRO’s satellites also provide high-resolution imagery that plays a crucial role in national security.

Click here to find out more about what may happen in Union Budget 2025

However, India currently holds merely 2%-3% of the global space economy. Looking ahead, India’s space economy is expected to reach $13 billion by 2025, with the country aiming for a 10% share of the global space market by 2033. This growth will depend heavily on sustained investment in both public and private space initiatives.

Projected budget increase for ISRO

ISRO, which has been making waves with its successful