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Union Minister for Science and Technology and Earth Sciences. (Photo: PIB) Union Minister for Science and Technology and Earth Sciences. (Photo: PIB)

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World acknowledges India’s capabilities, potential in space tech: Jitendra Singh – Crypto News

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New Delhi: The world has begun to acknowledge India’s capabilities and its potential in space technology, with the country home to 140 space startups, Union Minister for Science & Technology Jitendra Singh said on Thursday.

Addressing the inaugural session of the G20 fourth edition of Space Economy Leaders Meeting (SELM), the minister said, this has been possible because of opening up of India’s space sector to private player.

The minister highlighted that India and the US, following Prime Minister Narendra Modi’s recent visit to America, have agreed to collaborate on space related activities. As a result, India will participate in the US-led Artemis program for exploration of the moon and other celestial objects. The pact will pave the way for easing restrictions on import of critical technologies in the space domain.

Singh said global cooperation and alliances are vital in the light of growing ambition of humans to explore outer space. An alliance of responsible space faring nations for enhancing the share of space economy in the global economy is the need of the hour.

“The future development of humanity lies in our collective ability to responsibly harness, pool resources and utilize space technology towards achieving sustainable development goals and improving the lives of common man,” said Singh. “Since space technology integrates various pillars of economy under one umbrella , the investments made here will have a multiplier effect on overall development of countries and economies.”

“Studies have forecast that the space economy will be the next trillion-dollar sector in the coming decades. Considering the importance of space in the economy, India has embarked upon various measures to open up, integrate our space economy and develop alliances with other countries he added.

Welcoming private partners and think tanks from across the world, the minister said he hoped that space economy leaders meeting of G20 countries will lead to convergence on use of space technologies to have a real and positive impact on the planet.

“Considering the fact that G20 countries along with partner countries represent the approx. 85% of global GDP, 75% of world trade and 2/3rd of world’s population, the decisions we take here will have a far-reaching impact on the future of the space economy,” he said.

Singh said India has demonstrated the application potential of space technology during six decades of Indian space programme.

“Today, space has touched all walks of human life, including science & technology, telecommunication, agriculture, education, health, rural development, disaster warning & mitigation, studying climate change, navigation, defense & governance to name a few,” he added. .

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Updated: 06 Jul 2023, 03:53 PM IST

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