“Indian space economy is valued at USD 7 billion, which is about 2% of the global space economy. Upstream activities contribute to USD 2.3 billion and downstream activities contribute to USD 4.7 billion”, stated Dr V.K. Saraswat, Member, NITI Aayog at the International Space Conference and Exhibition organised by the Confederation of Indian Industry (CII) under the guidance of Indian Space Research Organization (ISRO), supported by Antrix Corporation Limited (ANTRIX) and New Space India Ltd. (NSIL), from 15 – 17 September 2020, over digital platform.
Emerging Space is a budding ecosystem with companies emerging across the entire value chain to tap into growing demand, added Dr. Saraswat. According to him, satellites have grown in the last two years from 1057 satellites in November 2018 to 2066, at present. Countries like USA, Russia and China have continuously augmented their capacities and have been ranked across the world.
Dr Saraswat said Space Technology will focus investments in 8 thrust areas that are key to future missions and enhance national space capabilities 1) high power solar electric propulsion 2) Space optical communication 3) Advanced Life support & Resource Utilization 4) Mars Energy Descent and Landing Systems 5) Space Robotic Systems 6) Light weight Space Structures 7) Deep Space Navigation and 8) Space Observatory.
He noted that new frontiers of the space sector are opening up like Space based tourism, Space based energy/power, Space based Manufacturing, Asteroid Mining and Deep space missions. Innovative space technologies, services and business models will be game changing to the space industry, he said.
Mr Václav Kobera, Senior Director General, Ministry of Transport, Czech Republic said that they see huge potential in the Indian Industry space activities. For Czech Republic, it is one of the priority sectors and the budget has been increased recently to achieve big ambitions in the space sector.
Mr Anthony Murfett, Deputy Head, Australian Space Agency mentioned that with recent developments there will be an increase in collaborations with the private sector.
Dr Jean-Yves Le Gall, President, CNES said that CNES highlighted that space technologies have today reached all spheres of human life, benefitting the overall society as a whole. The world's space agencies have decided to establish an independent, international system to centralise data from their Earth-observing satellites through the 'New Delhi Declaration.’
Dr K. Sivan, Chairman, ISRO, Secretary, Department of Space, Government of India emphasised that ISRO will provide huge opportunities for Indian Start-ups and MSMEs to develop products and services for ISRO.
Mr Rakesh Sasibhushan, Chairman, CII National Committee on Space & CMD, Antrix mentioned that CII has also been working closely with ISRO and Antrix since 2008 towards building a stronger and vibrant ecosystem for innovative space technologies in India.
Mr G. Narayanan, CMD, New Space India Limited (NSIL) said that collaboration with private industry will be the way forward for Indian space sector. ISRO has played an integral role in large developments in space sector.
Mr Jayant D Patil, Chairman, CII Strategic Manufacturing mentioned that with the new regulations announced by the Government, it is very important to ensure that linkages between ISRO and industry opens new business opportunities.
Mr Chandrajit Banerjee, Director General, CII emphasised that there is great potential in the Indian industry in space technology. Space start-ups in India are making an impact across the entire space value chain in the country by providing the solutions for satellites and launch vehicles.
15 September 2020