Chennai: The Confederation of Indian Industry (CII) in collaboration with the Indian Space Research Organization (ISRO), NewSpace India Limited (NSIL) and Antrix Corporation Ltd is organizing an International Space Conference and Exhibition from 13 September to 4 October 2021.
The digital conference and exhibition is about the theme ‘Building NewSpace in India’ with the aim of facilitating and strengthening the industry’s participation in the production of satellites, launch vehicles and the use of space applications in different sectors.
The conference will consist of digital interactions and virtual exhibition and will also highlight the initiatives of the Indian government (the establishment of the sectoral regulator, the Indian National Space Promotion and Authorization Center-INSPACs) and the Indian space agency ISRO to promote local industry in the space to encourage and involve sector and exhibition opportunities for the Indian industry.
According to CII, the global space economy is valued at $ 385 billion by 2020 and is expected to grow to $ 428 billion in 2028, according to the findings of consulting firm EuroConsult.
This growth is made possible by the growing demand for space-based services, cost reduction, miniaturization and access to technology, liberal funding and the enabling of regulations around the world.
India, which currently holds two per cent of the share in the global space business, holds great promise as a destination for increased space trade and also as a production center.
Source: Telangana Today