Jitendra Singh on G20: India an emerging space economy

Shillong: India is one of the few countries that has built end-to-end capability in space technologies, Union Minister of State for Space Jitendra Singh said on Monday.

Speaking at the pre-event of the G20 Space Economy Leaders Meeting (SELM), Singh said that India is an emerging space economy.
“India is one of the few countries that has built an end-to-end capability in space. Over the years, space technology has permeated all spheres of life. As a result, a large number of space-based services have been created. There is a demand with huge commercial potential,” he said.

He said that the government has decided to open up the space sector to the private sector and help companies to increase their participation in space activities with ISRO holding hands.
He said that increased private industry participation would ultimately increase India’s contribution to the global space economy.

India’s G20 Sherpa Amitabh Kant said the G20 countries should cooperate in three key areas – manufacturing in space, mining in space and energy in space.

“I propose three key areas of cooperation – manufacturing in space, energy in space and mining in space. These will form the foundation on which the G20 can build its shared vision of civilization.
“I am firm in my belief that we must start developing and implementing new space applications for socio-economic development,” he said.

He also insisted that policies to create an enabling environment for growth and trade in the new space age should be formulated by the G20 to allow for greater cooperation among member states.
Speaking at the event, Meghalaya Chief Minister Conrad K Sangma said the Indian Space Policy 2023 will allow more startups to enter the sector.

“With the approval of the space policy by the government, startups will be encouraged to enter and invest in this sector,” he told PTI on the sidelines of a function in Shillong.

“India has a huge pool of entrepreneurs. I am happy that the policy will allow the youth to venture into this sector. On behalf of the state government, we will support them,” he added.
All the states in the Northeast are hosting G20 events, Sangma said, adding that the region is contributing to the country’s overall economic activity.
He lauded the North East Space Application Center for helping the state in forecasting rains, enabling it to prepare for floods.