G20 Sherpa Amitabh Kant, said the space economy was experiencing rapid growth with increasing revenues and more commercial actors entering the industry…reports Asian Lite News
The fourth edition of the G20 Space Economy Leaders Meeting (SELM) — the first face-to-face meet after three hybrid ones hosted by other countries — kicked off in Bengaluru on Thursday.
Eighteen heads of national space agencies and nine of the 11 invited members are participating in the two-day event themed ‘Towards a New Space ERA (Economy, Responsibility, Alliance)’, a precursor event for which was held in April at Shillong.
Considering the fact that G20 countries along with partner countries represent approximately 85% of global GDP, 75% of world trade and two-thirds of world’s population, union minister Jitendra Singh, said: “You are not only spear-headers and torchbearers but also opinion makers and I am glad that India is in a position to share its input with other member countries as well. The decisions we take here will have a far-reaching impact on the future of the space economy.”
Calling for an alliance of responsible space faring nations to enhance the share of space sector in the overall global economy, he said SELM theme aptly captures India’s G20 theme of “One Earth, One Space, and One Future” or ‘Vasudhaiva Kutumbakam’ as it is in Sanskrit.
“The new chapter of public private participation is going to make it a value for all of us to learn the virtues of an integrated approach. An era of partnership is in the offing, our concerns are common and our efforts have to be common. Therefore, the time has come to carry forward collaboration to discover wider horizons,” Singh said.
Pointing out that space has touched all walks of human life, including science & technology, telecommunication, agriculture, education, health, rural development, disaster warning & mitigation, studying climate change, navigation, defence & governance to name a few, he reiterated that space technology, today has entered every household, even if people don’t realise it.
G20 Sherpa Amitabh Kant, said the space economy was experiencing rapid growth with increasing revenues and more commercial actors entering the industry. “Studies project that space could become a $1-trillion sector in the coming decades and this exponential growth necessitates support from governments. That is why we are discussing space as a formal element in the G20,” Kanth said.
Round table meetings for the heads of space agencies, panel discussions, bilateral meetings and a plenary session are also part of the first day of the event.
Pawan Goenka, chairman, Indian National Space Promotion and Authorisation Centre (IN-SPACe), said: “Given the complexity of technology and huge investments Space requires, bilateral and multilateral alliances will go a long way in advancing this sector. And I am hoping that during the next two days, such alliances will take shape. It is especially an opportune time for India, whose space sector is transiting.”
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