India-US Space Partnership Crucial for $44 Billion Space Sector by 2035: IN-SPACe Chairman
New Delhi, Dec 2: The partnership between India and the United States is pivotal for India to achieve its ambitious goal of a $44 billion space sector by 2035, said Pawan Goenka, Chairman of the Indian National Space Promotion and Authorization Center (IN-SPACe), during the 4th India-US Space and Geospatial Business Summit held in Hyderabad on Monday. The summit, organized by the Geospatial World Chamber of Commerce in collaboration with Geospatial World, focused on the vital role of shared investments in technology, policy alignment, and manufacturing to accelerate global progress.
Goenka highlighted the importance of the growing India-US space collaboration, which has seen significant advancements in joint space missions, satellite launches, and technological innovations. “For space, data is the output, and for geospatial, data is the foundation,” he stated, underscoring the intersection of space and geospatial data in driving innovation.
IN-SPACe, the autonomous nodal agency under the Department of Space, plays a key role in facilitating the partnership. Goenka elaborated on the nation’s ambitious plans for upcoming Chandrayaan missions 4, 5, and 6, which are expected to contribute significantly to India’s space sector goals. “The India-US partnership will be crucial in realizing this vision,” he added.
Dr. Rajeev Jyoti, Director (Technical) at IN-SPACe, further emphasized the growing bilateral trade in geospatial and space technologies, which is expected to rise from $2.5 billion in 2024 to $10 billion by 2030. He also mentioned the NASA-ISRO SAR (NISAR) mission as an example of the successful collaboration between the two countries.
The summit also highlighted India’s role in the global Earth Observation (EO) industry, which is projected to grow at a CAGR of 16 percent, reaching $8 billion. India is expected to play a key role in this expansion, with its burgeoning geospatial sector valued at $1.92 billion. Experts noted that India’s cost-efficient, high-quality solutions complement the US’s technological leadership, creating a strong partnership for global advancements in space and geospatial technologies.
Jennifer Larson, the US Consulate General in Hyderabad, emphasized that the India-US partnership is not only about economic growth but also about leveraging these technologies to address global challenges, improve lives, and promote sustainability. She also highlighted the integration of artificial intelligence (AI) and machine learning (ML) with geospatial data, enabling more sophisticated analyses to solve complex global issues.
Looking ahead, Larson expressed hope for further advancements in space cooperation and visa facilitation, with the goal of reaching the $10 billion trade target by the next summit. Discussions at the event also focused on actionable strategies to deepen collaboration, such as technology transfer, advanced manufacturing for geospatial equipment, and strengthening India’s role as a solution provider in the global space and geospatial ecosystem.
