The Indian space sector has been evolving rapidly over the past few years, with significant growth in both government-led and private sector-led initiatives. India constitutes to about 2-3% of the global space economy and has a potential to reach more than 10% of global market share by 2030. The Indian space sector is recognized for building cost-effective launch vehicles and satellites with collaborations of Government agencies and private parties. The vision of Hon’ble Prime Minister to make India self-reliant encourages the Government's approach for space reforms through freedom of Innovation and technological advancement.
The Government of India envisions to expand its global share in the space sector by efficiently involving the private sectors. To harness the huge untapped potential of the country’s human resources, technical acumen, capabilities, it is prudent to carry out independent space activities. To achieve this ive, the union cabinet led by the Prime Minister took the historic decision to open the space sector and enable the participation of Indian Private sector in the entire gamut of space activities. Furthermore, the Indian union cabinet has approved the Indian space policy 2023, aimed at enhancing the role of private entities and start-ups in Country’s space sector.
Semiconductors are the foundation of everything digital in today’s world – from transportation and artificial intelligence (AI) to 5G and quantum computing and beyond. The success of the semiconductor industry has hinged on its ability to operate globally, innovate, and protect intellectual property (IP), and build efficient and cost-effective supply chains around the world. All phases of the semiconductor value chain — research, design, manufacturing, assembly, and packaging — occur in a globally integrated network. The semiconductor sector is driven by continuous innovation, with companies investing heavily in research and development to create faster, smaller, and more efficient semiconductor devices
The Indian economy accounts for nearly 3.2% of the global economy, and its population is almost 3.2% of the total global population. The Government of India aspires to make the country a substantial manufacturing and design hub for electronics as part of its Aatmanirbhar Bharat scheme. The Digital India Programme has led to a paradigm transition towards digitisation and e-governance in India. India's market share in the global electronics manufacturing industry increased to 3.6% in 2020 from 1.3% in 2012. Technology has been a crucial driver across industries, influencing all spheres of life. The electronics market share in India is on the rise. In the past few years, India has captured a sizeable market share of the electronics manufacturing ecosystem that drives the technology sector. For the country to be the global electronics production unit of the future and become a US$ 5 trillion economy by 2025-26, it shall aim to be a US$ 1 trillion digital economy.