ISRO working on solutions to monetise space economy

New Delhi, October 26

The solutions provided by the Indian Space Research Organisation (ISRO) would help monetise the space economy, S Somanath, chairman of premier space agency, said here on Wednesday.

Somanath also said that “Navigation with Indian Constellation” or NavIC had the potential to become a global navigation system. “Solutions provided by ISRO will help monetise the space economy. We have to start looking at our space sector with a whole new perspective on a larger and more monetised economy. If we look at NavIC, though a regional satellite navigation system, it has the potential of becoming a global navigation system,” Somanath said, adding that a conducive policy for the space sector was slated to be announced in the near future.

Somanath, who is also Secretary of the Department of Space, was speaking at the India Space Congress 2022, organised by the SIA-India. NavIC is an independent standalone navigation satellite system of India, operated by ISRO. The Centre has started consultations with smartphone brands to incorporate NavIC in smartphones.

Addressing the opening session K Rajaraman, Secretary, Department of Telecommunication, said satellite communications would play a pivotal role in digital inclusion of the last mile while helping in 4G coverage saturation in 30,000 villages in a year.

Rajaraman said that incorporating around 400 million unbanked citizens to the digital economy had helped them transact electronically. “Digital inclusion shall pave the way for our national goal of economic inclusion. New technologies promise convergence and spectrum deployment should be put to better use,” he said.

The inaugural session concluded with an MoU being signed between Taiwan Space Industry Development Association (TSIDA) and SatCom Industry Association of India (SIA-India). The MoU will pave the way for collaboration between the two industry associations focusing on the growth of the space industry and towards a collaborative work atmosphere.

The MoU was signed by the Representative of Taiwan to India, Baushuan Ger, and Subba Rao Pavuluri, SIA-India chief. The three-day India Space Congress 2022 is expected to see participation by 500 delegates, 180 speakers and 35 thematic sessions from 20 nationalities. The objective is to open dialogue, discuss business models, talk about regulatory challenges and learning from other geographies.

New perspective

We have to start looking at our space sector with a new perspective on a larger and more monetised economy. If we look at NavIC, though a regional satellite navigation system, it has the potential of becoming a global navigation system. — S Somanath, ISRO chief