New Delhi, October 2022.
Marking its 1st Foundation Day, the Indian Space
Association (ISpA), apex industry association of space and satellite companies
in India, launched by Hon’ble Prime Minister Shri Narendra Modi last year today
unveiled a sector report titled “Developing the space ecosystem
in India: focusing on inclusive growth” in collaboration with EY
at ‘Indian Space Conclave’. The report brings forward the
developing dynamics of the space ecosystem in India and covers the outlook of
the space economy in India and its potential to accelerate the socio-economic
development in the country. The event was graced by Dr. Jitendra Singh,
Hon. MoS, Ministry of Earth Sciences, Space, Science and Technology, Prime
Minister's Office; Shri S. Somnath, Secretary, DoS and Chairman ISRO and
industry leaders.
‘Indian Space Conclave’ at Sir Manekshaw center, New Delhi witnessed participation
of industry leaders to deliberate on subjects like Atmanirbhar Bharat in
Defence Space, realizing India’s $5T economy growth and enabling Space for the
common man. The conclave is followed by a 2-day exhibition put up by 24
exhibitors from leading space startups and academic institutions showcasing
their products and offerings.
Speaking on the occasion Shri Jayant D Patil, Chairman,
ISpA said “ISpA has made significant progress in its first year regarding
policy consultations, deliberations with industry leaders, since the launch by
Hon’ble Prime Minister. We appreciate the support from various ministries and
institutions in our discussions as well as the participation of our members
throughout the year and we are happy to announce that ISpA is a 50-member
strong association, starting from just 7 members a year back in just a matter
of one year. This is a testimony of our efforts being channelized in the right
direction. With the rapidly growing space ecosystem, India is all prepared to
grow to US$13b by 2025 at a CAGR of 6%. We believe as India looks forward to
the New Space Policy, the private industry’s role is set to create a revolution
in the current value chain of the Indian space economy.”
On the occasion, Dr. Jitendra Singh, Hon. MoS, Ministry
of Earth Sciences, Space, Science and Technology, Prime Minister's Office said
“I think the greatest credit to this entire exercise that has been accomplished
in the space sector over the last one year is an extension of the last few
years. I’m glad our Hon’ble Prime Minister encouraged us to go ahead as space
domain became open for the public-private participation, also preparing players
and the outcome is that the sector is today attracting increasing number of
startups. On a global level, India has also emerged as a very strong player in
the geospatial technology. I'm glad to know that ISpA has lived up to their
role of reform implementation while articulating the industry opinion, industry
stakes and also the industry participation.”
On the occasion, Shri S. Somnath, Secretary, DoS and Chairman
ISRO said “Our goal is to make
the space and the rise of India much more bigger in the scale of operation.
India has reached a point where we need to take the space sector to the next
level and this is where the whole idea of opening up the space where the most
important part is the knowledge base. Downstream applications are less complex,
but when you go upstream it becomes much more complex and very difficult to provide
failures. And this is where we need to support each other and this is where the
role of space comes in. The space sector can solve a lot of problems and
important issues of climate, mapping, internet services. These are few emerging
markets which we will see growing.”
Prashant Singhal, Emerging Markets TMT Leader, EY said “I would like to congratulate ISpA
on its first anniversary and for its contribution to the space industry in
India. Space-based communication will be one of the primary mechanisms to
narrow the digital divide in India. The sheer reach of satellites and the
ability to quickly establish connectivity makes them extremely versatile in
areas where terrestrial communication is difficult to reach. Opening up of the
space economy to private participation in India heralds an era of growth and
innovation. It is part of many pioneering space reforms being introduced. A
conducive regulatory and policy framework, as well as promoting ease of doing
business which is critical for investments to flow in the space domain, will go
a long way in building a robust ecosystem. I hope the EY-ISpA report helps to
further shape the dialogue in building the space economy in India and transform
the lives of Indians.”
Indian Space Association (ISpA) in a year since its inception
has played a vital all-encompassing role for the entire Space Domain especially
in bringing together the private space industry. It has emphatically undertaken
policy advocacy and engagement with stakeholders including TRAI, DoT, Ministry
of Defence, IN-SPACe and others, to make India self-reliant, technologically
advanced and a global leader in the space arena. As per the Director
General of the Indian Space Association, the response and support of all
Government departments have been truly positive and in sync with the Hon'ble
Prime Minister's desire for the government to be an Enabler.
With established players to startups of the sector being ISpA
members, it played a critical role in consultation on the proposed Space
policy, which once implemented will give wings to the private space industry
and fuel a new lease of growth in the Space Startup ecosystem. ISpA member
companies like Astrome Technologies, Agnikul Cosmos, Pixxel and many others
promise a huge potential, also as an example of collaboration ISpA member
OneWeb’s 36 satellites will be launched by ISRO in October.
Highlights of ISpA-EY Report - Developing the space ecosystem in
India: focusing on inclusive growth
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