Print Friendly, Pdf &Amp; Email

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)

For Enquiry

Search By Categories
UP Police Constable Salary- Pay Scale, Benefits, Roles and Responsibilities
UP Police Constable Salary– The starting salary of UP Police Commissioner is an attractive INR...
24 April 2024 : Daily Answer Writing
Mains Answer Writing 24-April-2024 Q1) Agriculture sector needs to turn into an enterprise to become...
24 April 2024 : Daily Current Affairs
Daily Current Affairs 24-April -2024- Top News of the Day3 1. How is India planning to boost EV production? Topic:...
24 April 2024 : The Hindu Editorial Notes PDF
The Hindu EDITORIAL 24-April-2024 1. Toss out the junk food, bring back the healthy food plate Topic:...
24 April 2024 : PIB Summary for UPSC
PIB Summary for UPSC 24-April-2024 1. New NCPOR study attempts to resolve the Mystery of extremely low...
24 April 2024 : Indian Express Editorial Analysis
Indian Express Editorial Analysis 24-April-2024 1. Time to Heal Topic: GS3 – Internal Security – Linkages...
Police Inspector Salary in India 2024
Police Inspector Salary: The starting salary of a police inspector in India is between 56,100 to 1,77,500...
23 April 2024 : Daily Answer Writing
Mains Answer Writing 23-April-2024 Q1) Analysing various issues associated with farm subsidies, suggest...

© Copyright  99Notes.in  All Rights Reserved

Address

Head Office :- Office No-2 & 3 ,LGF,Apsara Arcade,Adjacent Karol bagh Metro,Old Rajinder Nagar ,New Delhi-110060

2nd Office:- Metro station, 2nd floor, 5B, Pusa Rd, opp. to Metro Pillar no. 110, near Karol Bagh, Block B, Karol Bagh, New Delhi, Delhi 110005

Call us : 9654638994