Promote Innovation-space-tech convergence, says Minister
Space sector should be seen as a catalyst for broader sectoral development, not as a standalone pillar, Dr Jitendra Singh, Minister of State in charge of Department of Space said in a written reply in the Rajya Sabha on 24 July.
“Indian space sector is poised to play a transformative role in the country’s technological and economic growth story, it must be positioned as a strategic enabler, not the sole engine of economic expansion,” he underlined https://www.bseindia.com/.
For balancing rapid expansion without getting over-reliant on Space sector or technologies, it is imperative to:
Position Space as an Enabler Across Sectors. It should be deeply integrated with agriculture, disaster management, urban development, logistics, climate action, defence, and digital services, which will distribute the risk of economic over-reliance;
Promote Cross-Sector Innovation & space-tech convergence with fields like AI, quantum computing, biotech, and green energy will ensure the gains are distributed and mutually reinforcing;
Promote a Balanced Innovation Portfolio with focus on nurturing a diverse technology ecosystem- supporting other high-growth sectors (semiconductors, electric mobility, fintech, etc.) alongside space, to ensure economic resilience even if space sector faces global market fluctuations https://www.nseindia.com/;
Build Policy and Investment Guardrails, to ensure that fiscal and policy priorities remain balanced. While incentivizing space, equal emphasis should be placed on other sectors like- manufacturing, MSMEs, and green energy. Public-private investment strategies should avoid overconcentration of capital in any one sector https://fieo.org/.
India, the Minister stressed, should use space to enable Socio-economic impact more distributed and inclusive, through a diversified innovation-led growth model, where space acts as an integrator and enabler. It will help to ensure that India’s economic trajectory remains balanced, resilient, and inclusive without risking over-reliance on any key sector or technologies. fiinews.com
