The Positive Influence of Union Budget 2024-25 on Indian Startups

Boosting the Country’s Space Sector

The space-tech startups got green flag from Finance Minister, she informed that the government of India will launch a venture capital fund worth over Rs.1000 crore to amplify the space sector of India. This momentous funding initiative signifies the government’s target of fueling the growth flame in the space sector and economy through nurturing inventive startups and research based activities into the ground. The fund is expected to stimulate advancements in space technology, enhance India’s position in the global space industry, and encourage private sector participation in space exploration and commercialization. The funding initiative is projected to motivate the investments, stimulate the participation of private players in the space tech and intensify India’s global rank in space sector.

Anil Joshi, Managing Partner, Unicorn India Ventures, expresses his excitement for the upcoming change, “The 1000 crore fund of funds for space tech is testimonial to India’s capability in coming up with breakthrough solutions at low cost. This will certainly help space tech companies to look for much needed early-stage capital to get started. This will certainly help mobilize over Rs.4000 Cr, great move. Angel Tax abolishment was long pending, glad that Hon. FM has heard industry voices and has finally abolished it. This will certainly help in expansion of angel investment in India and will take away a lot of burden from the minds of everyone on tax notice for tax paid investment. This will also free up a lot of domestic capital and improve the funding sentiment in a strong way”.