- G20 countries and partner countries represent about 85% of the world's GDP, 75% of world trade, and 2/3 of the world's population
- Singh said that India's space program, which has been going on for 60 years, has shown how space technology can be used.
Union Minister Jitendra Singh said that India has gotten a good start with over 140 space startups in a short amount of time. He also said that the rest of the world has started to recognize India’s skills and promise in space technology.
The Union Minister of State for Science and Technology, MoS PMO, Department of Atomic Energy and Department of Space, and MoS Personnel, Public Grievances and Pensions was speaking at the opening session of the G20 4th Space Economy Leaders Meeting (SELM) in New Delhi on Thursday.
Singh said that the credit goes to Prime Minister Narendra Modi, who opened up India’s space sector to private players. This has led to a huge jump in the last few years. Even though India started its journey into space a few years after some other countries, it is now India that is giving the world’s top space agencies important hints and information.
The minister also said that Modi’s recent trip to the US, where space-related agreements were a big part of the agenda, shows that even countries that say they were the first to use space technology are now looking to India for ways to improve their own space activities.
Singh praised the private sector and said that their growing role in the space economy was “key.” He also said that global cooperation and partnerships are important because more and more people want to explore space. We need a group of responsible spacefaring countries to work together to make the space economy a bigger part of the world economy.
Singh said, “The future development of humanity depends on our ability as a whole to use space technology in a responsible way to reach sustainable development goals and make the lives of ordinary people better.”
He also said that what the world needs right now is an alliance of responsible space-faring countries to increase the share of the space economy in the global economy. The theme of this event is a good way to describe this need.
This fits well with India’s theme for the G20, which is “One Earth, One Space, and One Future,” or “Vasudhaiva Kutumbakam” in Sanskrit.
The minister said, “Since space technology brings together different parts of the economy under one roof, investments made here will have a big impact on the growth of countries and economies as a whole.” Studies have predicted that the space economy will be the next trillion-dollar area in the coming decades. Because space is so important to the economy, India has taken many steps to open up, combine its space economy, and form partnerships with other countries.
India’s S&T minister welcomed private partners and think tanks from all over the world and said he hoped the G20 Space Economy Leaders Meeting would lead to agreement on how to use space technologies to make a real and good difference on the planet.
“G20 countries and partner countries represent about 85% of the world’s GDP, 75% of world trade, and 2/3 of the world’s population, so the decisions we make here will have a big effect on the future of the space economy,” he said.
Singh said that India’s space program, which has been going on for 60 years, has shown how space technology can be used.