Union Budget: Space sector seeks PLI scheme, tax holidays, more use of satellite data
production-linked incentive scheme for them in the Union Budget. The sector has put forward its demand ahead of the Union Budget for 2025-26 on February 1.
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The Indian space economy is valued at 8.4 billion dollars and the private sector has just about started making a mark by building satellites and launch systems eyeing a manifold increase over the next decade.
«Probably something like a production-linked incentive scheme for the space sector would be helpful from a budget standpoint. A lot of infrastructure development needs to be done for space as well. So, if it can be incentivised for companies to set local manufacturing, that would be great,» Pixxel Space co-founder and Chief Executive Officer Awais Ahmed told PTI.
The Indian Space Association (ISpA) Director General Lt Gen A K Bhatt (retd) demanded import exemptions, lower GST, and tax holidays for the industry for a certain period of time.
He said the ISpA also expected the government to allocate more budget for various departments for space-based applications and cited the example of the Ministry of Road Transport which plans to use satellite data for collection of toll on highways.
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