Space Technology will be the next focus area of Telangana, Industries and IT Minister K.T. Rama Rao said unveiling the SpaceTech Framework that seeks to make the State globally recognised one-stop destination in the field.
“The spacetech industry, both upstream segment such as satellites and downstream segment such as Applied AI/Analytics, is at an inflection point of accelerated growth. With national reforms supporting increased participation of the private sector, Telangana will be supporting the innovation that is bound to occur,” he said.
Making the launch unique was the decision to hold the event in Metaverse though everything did not pan out as planned on account of technical glitches.
“It’s the first use of metaverse to host an official event,” the Minister said, adding Hyderabad is uniquely positioned to become a hub for space related activities owing to synergies with the existing aerospace and defence ecosystem and its global supply chain. Small and medium enterprises from the city contributed over 30% components for ISRO’s acclaimed Mars Orbiter Mission. Hyderabad is also home some of the well known startups in the field such as Dhruva Space and Skyroot Aerospace.
Mr.Rao said the plan is to further accelerate the ecosystem and realise vision to establish Telangana as a globally recognized one-stop destination in Space Technology. “I request representatives of startups, industry and academia to look at Telangana government as their partner as they look to build innovative world class solutions at an accelerated pace,” he told the programme in which NITI Aayog CEO Amitabh Kant; ISRO Chairman S.Somanath; Indian National Space Promotion and Authorization Center (IN-SPACe) Chairman Pawan Goenka and officials, including Industries and IT Secretary Jayesh Ranjan, participated in their Metaverse avatar.
The Minister said it’s time “we occupy a larger share of the space industry that is expected to grow to $558 billion by 2026.”
A release from Mr.Rao’s office said the government, under the Framework, seeks to build an ecosystem where advancement of technologies in SpaceTech is increasingly done within India, by supporting both indigenous development and attracting best global companies.
