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6 March 2024 : PIB Summary for UPSC

By99notes

PIB Summary for UPSC

6-March -2024

1. India targets five-fold increase in its share of the global space economy, says Union Minister Dr Jitendra Singh

Topic: GS3 – Indian Economy

GS2 – Governance – Government policies – Interventions for development in various sectors

UPSC aspirants must understand India’s space sector growth, Government’s policy, private participation, and global economic impact.
Context
  • Union Minister Dr Jitendra Singh announces India’s goal for a five-fold increase in the global space economy share, praising the government’s role in unlocking the sector and fostering private participation.

 Additional information on this news:

  • Union Minister Dr Jitendra Singh announced India’s ambitious target of achieving a five-fold increase in its share of the global space economy.
  • India’s current space economy stands at $8 billion, but projections indicate it could reach $100 billion by 2040, as mentioned in the ADL Report.
  • The quantum leap in India’s space sector is attributed to government’s decision to open the sector to public-private participation, breaking the veil of secrecy.
  • Dr Jitendra Singh credited PM Modi for creating an enabling milieu that allowed India’s space scientists to showcase their potential and talent to the world.
  • The opening of the space sector resulted in the emergence of nearly 200 private space startups, with an investment of over Rs. 1,000 crore in the current financial year.
  • The Space budget witnessed a 142% increase in the last nine years, reflecting a significant boost in India’s space exploration efforts.
  • Dr Jitendra Singh highlighted the achievements in space missions, emphasizing their cost-effectiveness and the widespread application of space technology in various sectors like disaster management, infrastructure, agriculture, healthcare, and more.
  • The government’s Indian Space Policy 2023 encourages the participation of non-governmental entities in all space activities, and the Indian National Space Promotion and Authorization Centre (IN-SPACe) supports private sector involvement with various schemes.
  • Dr Jitendra Singh introduced the Anusandhan National Research Foundation (NRF), aiming to enhance public-private partnerships in scientific research with a budget of Rs. 50,000 crore over five years.
  • The NRF aligns with the National Education Policy 2020, emphasizing integration between the public and private sectors for strategic scientific research direction.
Need for Private Sector in Indian Space
Needs:

  • Resource Boost: Public funding limitations can be overcome by private capital and expertise, accelerating space exploration and development.
  • Innovation Powerhouse: Competition fosters technological advancements and cost-effectiveness, propelling India’s space industry.
  • Talent Unleashed: India’s vast pool of skilled professionals can be utilized for a broader range of space endeavours, maximizing human capital.
  • Global Competitiveness: Private sector participation is essential to compete in the rapidly growing global space economy.

Challenges:

  • Regulatory Hurdles: Streamlining regulations and establishing a clear, supportive policy environment is crucial for private sector investment.
  • Level Playing Field: Ensuring fair competition between private companies and ISRO requires careful consideration to prevent an unfair advantage for either party.
  • Security Concerns: Balancing national security with private sector involvement in sensitive space technologies necessitates strategic planning and robust safeguards.
  • Technological Gap: Bridging the technological gap between established private companies and some Indian startups might require targeted support and knowledge transfer initiatives.

Way Forward:

  • Policy Implementation: The 2023 Space Policy should be fully implemented, enabling private participation across all space sectors like launch vehicles, satellites, and applications.
  • IN-SPACe as Catalyst: IN-SPACe, the Indian National Space Promotion and Authorization Centre, can act as a facilitator, providing guidance and promoting public-private partnerships to leverage combined strengths.
  • Knowledge Sharing: Encouraging knowledge sharing and technology transfer between ISRO and private entities can significantly enhance the overall capabilities of the Indian space sector.
  • Skilling & Education: Investing in skilling and space education initiatives can create a robust talent pipeline for emerging private space companies.
PYQ: Discuss India’s achievements in the field of Space Science and Technology. How the application of this technology has helped India in its socio-economic development? (200 words/12.5m) (UPSC CSE (M) GS-3 2016)
Practice Question:  Discuss the significance of private sector participation in India’s space sector, highlighting the key reasons for its need, challenges faced, and propose measures for fostering a sustainable partnership between the government and private entities. (150 words/10 m)

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