ISRO Chief: Budget May Grow by 30%

India’s Space Agency Anticipates Significant Budget Increase

India’s space agency, the Indian Space Research Organisation (ISRO), is expecting a substantial 20-30% boost in its budget in the upcoming years. ISRO Chairman S. Somanath revealed this in an exclusive Reuters NEXT Newsmaker interview, highlighting that the agency’s rocket launch prices are comparable to SpaceX’s. However, specific details were not disclosed.

Strategic Plans for Expansion

In the interview, Somanath discussed ISRO’s ongoing initiatives, including the development of a heavy-lift booster rocket capable of carrying large payloads. These projects will be funded through a combination of private and public investments. Additionally, ISRO is setting its sights on ambitious goals such as crewed spaceflight.

The Indian government has allocated nearly 130 billion rupees ($1.55 billion) to the space department for the current year. Somanath mentioned that he anticipates a further 20-30% increase in funding over an extended period. In comparison, NASA’s approved budget for the fiscal year is $25 billion.

India’s Aspirations in the Global Space Market

Prime Minister Narendra Modi has urged ISRO to position India as a profitable space superpower. To achieve this goal, the agency is exploring partnerships with the private sector. With the global commercial space market projected to reach $1.8 trillion by 2035, India aims to increase its current market share significantly.

India plans to commission its own space station by 2035, land an Indian on the moon by 2040, and boost its space sector through initiatives like a 10 billion rupee venture capital fund. The government’s recent decision to allow 100% foreign direct investment in satellite system manufacturing has sparked further growth opportunities in the industry.

Collaboration with Private Sector Innovators

By liberalizing its space sector, which was previously government-dominated, India seeks to attract collaboration with leading aerospace companies like Elon Musk’s SpaceX and Jeff Bezos’ Blue Origin. Somanath highlighted that India’s medium-lift Launch Vehicle Mark-3 (LVM-3) already offers competitive pricing compared to SpaceX.

ISRO’s recent achievements, such as the historic landing on the moon’s south pole, have propelled India’s space ambitions. The country is gearing up for the Gaganyaan mission, which will mark India as the fourth nation to conduct a crewed spaceflight after the United States, Russia, and China.

Advancements in Space Technology

Somanath revealed that the Gaganyaan mission’s rocket has been constructed, with final integration phases for the crew module underway. ISRO anticipates launching an uncrewed test flight by December to prepare for the ambitious crewed mission.

As India accelerates its space endeavors, the country’s foray into space technology is met with optimism and anticipation. With a strategic vision and collaborative efforts, India aims to carve a significant presence in the global space arena.