India is one of the very few countries that have built end-to-end capability in space technologies, Union Minister of State for Space Jitendra Singh said on Monday.
Addressing the precursor event of the G20 Space Economy Leaders Meeting (SELM), Singh said India is an emerging space economy.
"India is one of the very few countries that have built end-to-end capability in space. Over the years, space technology has penetrated all walks of life. As a result, there is a huge demand for space-based services which have huge commercial potential," he said.
He said the government has decided to open up the space sector for the private sector and help companies to enhance their participation in end-to-end space activities with the hand-holding of ISRO.
The increased private industry participation will eventually result in an increased contribution of India in the global space economy, he said.
G20 sherpa of India Amitabh Kant said the G20 countries should collaborate on three key areas -- manufacturing in space, mining in space and energy in space.
"I suggest three key areas of collaboration -- manufacturing in space, energy in space and mining in space. These will form the foundation on which the G20 will be able to build the civilisation of its shared vision," he said.
"I am firm in my belief that we must start by developing and implementing new space applications for socio-economic development," he said.
He also insisted that policies that create an enabling environment for development and trade in the new space era should be formulated by G20 to allow further collaboration among the member countries.
Speaking at the programme, Meghalaya Chief Minister Conrad K Sangma said the Indian Space Policy 2023 will allow more start-ups to enter the sector.
"With the government clearing the space policy, start-ups would be encouraged to enter the sector and make investments," he told PTI on the sidelines of the event in Shillong.
"India has a huge resource of entrepreneurs. I am happy that the policy will allow youngsters to venture into this sector. On behalf of the state government, we will support them," he added.
With all states of the Northeast hosting G20 events, Sangma said the region was contributing to the overall economic activity of the country.
He lauded the North Eastern Space Application Centre for assisting the state in forecast rainfalls, allowing it to prepare for floods.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
Featured Video Of The Day
Putin Responds To Biden's Missile Approval By Changing Moscow's Nuclear Doctrine
Blue Origin Targets November 22 for Next Space Tourism Flight NS-28 NASA’s Viking Mission May Have Destroyed Martian Life with Water Experiments Elon Musk's SpaceX Falcon 9 Successfully Launches THE ISRO GSAT-20 Satellite Strangled, Left In Car Trunk: How Harshita Brella Was Killed By Husband AR Rahman, Wife Saira Announce Separation After 29 Years Of Marriage US Arrests Gangster Lawrence Bishnoi's Brother Anmol, But Not For Murder Jaguar Enters New Era With Fresh Logo, Brand Identity Indians Lead Advanced AI Usage Globally, Early AI Adoption Saving Them 2 Hrs A Day Delhi University Warns Students Against Fake Notice About Winter Break Track Latest News Live on NDTV.com and get news updates from India and around the world.