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Karnataka aims to become manufacturing hub with centre of excellence
Industry News- Sep 19,24
The state aims to prepare its SMEs and MSMEs to meet global demand, supported by recently announced flat-floor factories across Karnataka.
Karnataka is positioning itself as a key player in India’s expanding space sector with plans for a centre of excellence, a strengthened manufacturing ecosystem, and a new state space policy. Speaking at the Bengaluru Space Expo's eighth edition, IT Minister Priyank Kharge emphasised the state's commitment to fostering growth in this sector.
"In Karnataka, we are your government. We are listening to the industry, startups, and academia," Kharge stated. He highlighted the state's focus on building a skilled workforce to meet the needs of both the space and manufacturing sectors. He also emphasised Karnataka's efforts to develop a robust plug-and-play ecosystem for manufacturing, assembly, and testing of component systems in the space industry.
The state aims to prepare its SMEs and MSMEs to meet global demand, supported by recently announced flat-floor factories across Karnataka. This initiative, Kharge noted, is expected to accelerate growth for small and medium enterprises in the space sector. Extensive consultations with spacetech startups and enterprises have informed the state's strategy, ensuring that their expectations and challenges are addressed.
Karnataka is set to introduce a comprehensive state space policy, expected by the last quarter of 2024, to drive investments, innovation, and the adoption of advanced space technologies. Kharge also announced plans for a Centre of Excellence for Space Technologies, which will serve as a hub for research, innovation, and support for space startups. The centre aims to integrate space technologies into critical sectors like agriculture, mining, health, and education, enhancing governance and sustainability. Additionally, Karnataka is in talks with global partners to create startup corridors, promoting knowledge sharing, collaboration, and market access for space startups.
Kharge underscored Karnataka's vision to make India a leader in skilled workforce development, research, innovation, and manufacturing. He pointed out the rapid growth of the global space industry, valued at $630 billion in 2023 and projected to reach $1.8 trillion by 2025. While India's space sector currently accounts for only 2-3% of the global market, valued at around $10 billion, the country aims to capture nearly 10% of the global space market by 2030. The Indian space market is expected to grow from Rs 64 billion domestically and Rs 24 billion in exports to Rs 260.04 billion domestically and Rs 880 billion in exports, driven by joint efforts from the government and the private sector.
(TOI)
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