ISRO Chairman Somanath Highlights the Importance of Building New Markets and Achieving Wider Adoption of Space Technologies for Economic Growth
New Delhi, NFAPost: India’s Chairman of the Indian Space Research Organisation (ISRO), S. Somanath, has urged companies in the space tech sector to develop business models that make satellite services affordable to millions of users. Speaking at the India Space Congress 2023 organized by the SatCom Industry Association-India (SIA-India), Somanath emphasized the importance of reducing the cost of satellite services to cater to a larger population and drive social and economic progress.
Acknowledging the cultural inclination towards freebies in India, Somanath suggested that by offering affordable solutions, companies could build significant businesses while benefiting the masses. However, he highlighted the necessity of establishing sustainable business models to support such initiatives.
During his address, Somanath emphasized the need to find ways to deliver on-ground infrastructure and connectivity to millions at minimal costs. He stressed that achieving economies of scale is crucial for making satellite services accessible to a wider public and expanding their reach.
One crucial aspect discussed was the identification of new markets for satellite technology. Somanath emphasized the importance of creating markets in India where satellite capabilities are currently limited to a small segment of society, mainly used by the government. To achieve this, he called for integrating satellite technology into the daily lives of individuals, making it an essential aspect of their connectivity needs. Somanath outlined several areas where satellite technology can have a significant impact, including agriculture, food collection and distribution, healthcare, survey records, weather predictions, and disaster management.
Recognizing that technological advancements alone are insufficient, Somanath called for collaborative efforts between industry stakeholders and policymakers to address grassroots challenges and bring about meaningful change. He affirmed that continuous growth in the satellite sector is assured if newer and more cost-effective applications can be developed.
In conclusion, Somanath’s address underscored the critical need for affordable satellite services in promoting social and economic progress. By incorporating satellite technology into everyday activities and expanding its reach to a wider population, India can harness the transformative potential of space technology to drive inclusive growth and development.
India Space Congress 2023 brought together industry leaders and experts from the space sector to shape the future of space technology. The event witnessed notable participants such as Bandaru Dattatraya, Governor of Haryana, who praised the role of satellite technology in transforming agriculture and water resource management in the state. Additionally, Alex Macdonald, Chief Economist at NASA, highlighted the upcoming Indian astronaut’s journey to the International Space Station in 2024 as a remarkable milestone in space exploration, symbolizing international collaboration and the boundless potential of human curiosity.
