India's Ambitious Space Goals: Aiming for the Stars

India's space agency anticipates a 20%-30% budget increase in coming years. ISRO Chairman S Somanath discussed plans for a heavy-lift booster rocket, crewed spaceflight, and collaborations with private sectors. The government has allocated nearly $1.55 billion to the space department this year, aiming to grow its global market share.

India's space agency, ISRO, is expecting a 20%-30% budget hike in the next few years, according to its chairman, S Somanath, in a Reuters NEXT Newsmaker interview on Tuesday. Somanath highlighted that ISRO's rocket launch prices are comparable to those of SpaceX, though specific details were not disclosed.

During the interview, Somanath elaborated on plans for a new heavy-lift booster rocket capable of carrying large payloads with funding from both private and public sectors. Among other ambitious goals are crewed spaceflights and India's own space station by 2035. This year, the government has allocated nearly 130 billion rupees ($1.55 billion) to ISRO.

Prime Minister Narendra Modi has urged ISRO to establish India as a dominant space superpower. To this end, the agency is looking to work more closely with private companies. The global commercial space market, valued at $630 billion, is expected to reach $1.8 trillion by 2035. India aims to increase its market share from $8 billion to $44 billion in the next decade. Recent reforms, including a 10 billion rupee venture capital fund and 100% foreign direct investment in satellite manufacturing, aim to attract firms like SpaceX and Blue Origin.

(With inputs from agencies.)