(MENAFN- KNN India)
Bengaluru, Aug 10 (KNN) The state government is poised to introduce an independent space policy by the end of the fourth quarter of 2024, with a strategic emphasis on fostering innovation and growth within the startup ecosystem and micro, small, and medium enterprises (MSMEs).
IT Minister Priyank Kharge, in an exclusive interview with The Times of India, revealed that the new policy will centre around four pivotal areas: skill development, incubation, innovation, and research.
"We're holding consultations across the board to ensure the policy caters to the needs of startups, MSMEs, and the larger aerospace industry," Kharge stated.
The initiative to develop a separate space policy was first suggested late last year. The state government is confident that this policy will create a robust framework to harness the potential of the private sector, reinforcing its leadership role in the space industry-a sector naturally associated with the state due to ISRO's headquarters in Bengaluru.
Kharge underscored the burgeoning opportunities in the private space market and the urgent need for the state to start developing capabilities not only for space but also for the broader aerospace sector.“We need to start building things now, not just for space but for the aerospace industry as a whole,” he emphasised.
While the specifics of the new policy are still being finalised, the IT minister confirmed that the formal unveiling will occur by December 31, 2024.
This forthcoming policy marks a continuation and expansion of the 2022-27 aerospace and defence policy, which previously included a dedicated chapter on space.
That policy had proposed the establishment of Special Economic Zones (SEZs) within aerospace and defence parks to attract companies focused on export markets and space-related activities.
In terms of applications, the earlier policy highlighted potential opportunities in satellite-based communication services, forest cover mapping, coastal zone monitoring, and space-derived inputs for weather forecasting.
It remains uncertain how many of these proposals will be incorporated into the new policy, but the move aligns with the Centre's broader ambition to enhance India's share in the global space economy by supporting and expanding the role of private industry.
The state's commitment to an exclusive space policy reflects its strategic vision to lead in the space sector and leverage its rich aerospace heritage. As the final details emerge, the policy is expected to set a new benchmark for space exploration and technological advancement in India.
(KNN Bureau)
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