Budget gives Rs 1,000 crore boost to space sector. What’s the road ahead?

economictimes.indiatimes.com:

space sector has immense economic potential, likely to be worth Rs 35,200 crore, about 8% of the global share by 2033. On 23 July, the Finance Minister announced the creation of a dedicated “space fund” worth Rs 1,000 crore, aiming to boost India’s space economy, attract investment and in the global space industry. According to Mr. Pawan Goenka, IN-SPACe Chairman, the fund is expected to be a professionally managed entity that supports space businesses.
India has showcased on the global stage its ability to innovate on a frugal budget, fulfilling the Chandrayaan-3 mission at a cost that was merely 3% of the Russian moon missions. This Budget proposal signals the Government’s intent to give a fillip to the Indian space sector by providing financial support, mentorship and guidance to emerging space startups. The establishment of the space fund marks the next step in a successful PPP collaboration aimed at advancing the technology essential for India's success in this field.

However, to achieve its full potential, several issues need to be addressed. Perhaps it is time for a dedicated and independent regulator along the lines of RBI or SEBI.
Space is a new frontier where many global players are attempting to establish their dominance. Dedicated regulators are being empowered abroad to issue licenses and regulate activities relating to space, such as the UK Civil Aviation Authority.

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