The theme of the digital conference and exhibition will be “Building a New Space in India” with the aim of facilitating and strengthening industry participation in the manufacture of satellites, launchers and the use of space applications in various sectors, CII said.
The conference would include digital interactions and a virtual exhibition and will also highlight initiatives taken by the Indian government (establishment of the sectoral regulator Indian National Space Promotion and Authorization Center-INSPACe) and the Indian space agency ISRO to encourage and engage national industry in the sector space and presenting opportunities for Indian industry.
According to CII, the global space economy is valued at $ 385 billion in 2020 and is expected to reach $ 428 billion by 2028, according to the findings of consultancy firm EuroConsult.
This growth is made possible by growing demand for space services, lower costs, miniaturization and access to technology, liberal funding and enabling regulations around the world.
India, which currently holds a 2% share of global space trade, holds great promise as a destination for increasing space trade and also as a manufacturing hub.