Sweet Sweet Revolution

The country has for so long been tagged a status of ‘Krishi Pradhan’, and with the rise of New India, agriculture and allied activities as a sector too has strengthened which possesses scope of creating more jobs, better produce and MSPs, modern agri solutions, agro-startups growth and mega welfare schemes to support farmers and their produce. The efforts have resulted in pursual of many novel agricultural practices & methods across the country like organic farming, horticulture, poultry, dry farming etc. and have also led to record stats of exports and production. One such booming type of agricultural occupation is Apiculture, which is showing huge potential and global reach.

It is low-cost, includes the perfect ingredients for maintaining the ecological balance and has proved to be a factor of fortune for Indian farmers – It is ‘Sweet Revolution,’ a honeyed shot in the arm of Atmanirbhar Bharat. Government has been ambitiously promoting apiculture or ‘beekeeping’ for quite some time now and putting in great efforts to accelerate the production of quality honey in the country. Scaling-up of beekeeping is directly proportional to doubling farmers’ income, generating employment, ensuring food security, conservation of bees, and increase in crop productivity. For this, a dedicated amount of Rs. 500 crore has been allocated for the National Beekeeping & Honey Mission for three years (2020-21 to 2022-23).

India has made its reputation as one of the leading honey exporting countries in the World. Organic honey produced in India receives global attraction as the sweet success of India reaches major markets including Germany, USA, UK, Japan, France, Italy, Spain etc. India exported about 60,000 MT of natural honey worth Rs Rs. 716 crore (US $ 96.77 million) during 2020-21 with the United States, Saudi Arabia, Canada, Bangladesh and Qatar being the major export destinations. Currently, more than 50% of the honey produced is being exported now allowing India to win 8th and 9th rank in the world in honey production and Export, respectively. India today has about 30 lakh bee colonies which produce 94.5 thousand MT of Honey. It provides employment to about 3 lakh rural people and has more of untapped potential of creating more jobs, given the efforts and endorsement continue.

Beekeeping has been one of the oldest activities in India. This makes it one of the leading honey markets in the world which have created intense competition in terms of innovation and cost. The honey market in India was worth Rs. 15,579 Million in 2018, registering a Compound Annual Growth Rate (CAGR) of 10.9% during 2012-2018. Additionally, the demand for honey in India is augmenting on account of the growing consumer preference for natural and healthy alternatives of artificial sweeteners, rising awareness regarding the benefits of honey and increasing popularity of various honey flavors.

The northeast region with its abundant floral resources can be deemed an ideal geographic location for the promotion of the apiculture market. As per a piece published by Niti Ayog, The apiculture market is estimated to register a CAGR of 4.3% during the period 2020–25, with Asia–Pacific as the dominant producer. As per a report by IMARC, the Indian apiculture market size is expected to reach a value of Rs 33,128 million by 2024, expanding at a CAGR of nearly 12% by 2024.With such possibility of rising demand abroad, Indian states, especially the north-eastern regions, can become significant players to benefit from the furthering of the Sweet Revolution for income & employment generation for farm and non-farm households.

From Roti, Kapda, Makaan to AtmaNirbhar Bharat

On this day, exactly eight years ago, Modi Government had assumed power after having registered a thumping victory in the 2014 General Assembly elections. In 2019, PM Modi took over as the Prime Minister yet again with an even bigger mandate. The NDA government spent these eight years making some unprecedented decisions as both its tenures have witnessed changes that have become unfading chapters in Indian History. Back in 2016, the first such decision shook the entire World as India army conducted Surgical Strike against terrorists in Pakistan. This was followed by the historic GST initiative that has resulted in uniform tax collection system, transparency and greater revenue collection. Other changes and initiatives that have brought paradigm shift in the Indian economic, social and political landscape are Abrogation of Article 370, resolution of issues like Triple Talaq and Ayodhya dispute, Atmanirbhar Bharat initiative, Digital India, NEP 2020, introduction of PLI Scheme, Vaccine Maitri initiative and Free Corona Vaccine, etc. Many other initiatives with an intent of ‘Jan Seva’ have been launched in the country which have improved the standard of living and aid. These include, Ujjwala Scheme, Ujala Yojana, Swachha Bharat Abhiyan which made the country open defecation free, PM Gareeb Kalyan Yojana, PM Awas Yojana, Ayushmaan Bharat and many more.

These unparalleled attainments were accompanied with the present government’s achievements at global level where India has been able to up its International Standing like never before. The foundation of such an elevated stature lies in the numerous efforts India has put in these 8 years. Some of the steps include giving due importance to potential regions through change in International policies like shifting from ‘Look East’ to ‘Act East’ policy, ‘Neighbourhood First’, fresh stand on signing of FTAs with various countries, formation of global initiatives like the International Solar Alliance (ISA) and Coalition for Disaster Resilient Infrastructure (CDRI) etc.

As for post-pandemic world order, India has surely leapt into the front-row seat due to its large scale implementation capabilities demonstrated in handling the pandemic while considering welfare of all at home with ‘Sabka Saath’ and abroad with ‘Vaccine Maitri’. Achieving this in a democratic setup is indeed wonderful news for all poor and needy across the globe. Further, India’s fight against COVID-19 opened gates for an ecosystem that supported indigenous manufacturing and innovation. Bill & Melinda Gates Foundation co-chair Bill Gates lauded India’s work on design, manufacturing and distribution of COVID-19 vaccines that helped save a massive number of lives. He also called it “a testament to innovation.” And why not, from CoWin platform, affordable COVID testing kits to innovative PPE kits for doctors, the country has developed devices that ensure innovations meet necessities. Right communication regarding vaccines at the grassroots level was pivotal. For this, a five-point strategic action framework was utilized to draw up the guidelines – Advocacy; Capacity Building; Media Engagement and social media; Social Mobilization and Community Engagement; and Crisis Communication using AEFI (Adverse Events Following Immunization).

All this has not been accidental when one looks at the Ethos of Atmanirbhar Bharat, a mass movement, which is deeply rooted in the values of this young nation. Framers of the Indian Constitution have set forth an enormous and unique challenge of simultaneously completing India’s triple transition across social, political and economic fields. India is one rare country of this size and complexity which has taken on this challenge of getting on to the three transitions together. Focus on rural development seems to be one of the key steps under the initiative. Knowing fully well that rural sector demand traditionally remains robust, yet as the effect of pandemic is visible, increasing demand has been one focus area. Pandemic has also caused supply constraints due to supply-chain disruptions, hence attending to this aspect too has been vital for Atmanirbhar Bharat.

And now this initiative is developing into a mass movement as well as the anchor for policy framework. Back in November 2021 itself, a Finance Ministry report had said that, “India is on its way to becoming the fastest-growing major economy in the world … Armed with the necessary macro and micro growth drivers, the stage is set to kickstart India’s investment cycle and catalyze its recovery towards becoming the fastest growing economy in the world”. The survey had said that growth will be supported by a supply-side push from reforms and easing of regulations, emphasis on infrastructural investment, boost to manufacturing sector through PLI schemes, recovery in demand, rise in discretionary consumption after the rollout of vaccines and pick-up in the credit given adequate liquidity and low-interest rates. All these are resulting in less demand-supply mismatch and more job opportunities. PLI schemes are proving to be a very strong pillar of Aatmanirbhar Bharat, clearly breaking the deadlock of jobless growth as was forecasted by experts. Now, not only India is expected to grow faster, it is more inclusive as job creation is at core of these positive developments.

Race to Space is Real for India

Space is the next frontier of human evolution and nation states are competing hard with limited resources. It feels like battle to stay relevant. The current valuation of the global space economy stands at about USD 447 billion and India’s ‘space economy’ is valued at ₹36,794 crore (approx. USD 5 billion only), which shows that India still needs to cover a big gap.

India is acting swiftly to fulfil its space ambitions as it also slowly upgrades its position with a space program that marks as one of the most advanced among other spacefaring nations in the Asian Continent. After unlocking the Space Sector for private players, Innovative Start-Ups are coming in a big way to explore the untapped potential. Access to ISRO facilities and expertise has also been extended to private entities to support their space activities. Talks are on to allow FDI in the space sector too.

India earmarked Rs 13,700 cr for the Dept. of Space in Budget 2022-23, as ISRO gears up for Gaganyaan — India’s first human spaceflight mission. Besides, India has other future missions including the Chandrayaan-3 programme, the Shukrayaan Venus mission which is expected to get launched in 2024, a twin aeronomy satellite mission that will study the uppermost layer of Earth’s atmosphere, Mission Trishna (in collaboration with French Space Agency CNES) for accurate mapping of land surface temperature, to name a few.

Further, the economic survey 2022 showed how the number of startups in the space industry has almost doubled in the last year. The space sector has shown a thriving ecosystem of entrepreneurs and private businesses with aid from government policies and reforms. Over 55 start-ups have registered with the Indian Space Research Organisation (ISRO), Department of Space, in just about two years since the Indian Space Department and the ISRO were opened to the private sector. Out of these 55 proposals, 29 are Satellite related, 10 are for Space Applications and Products, 8 are related to Launch vehicles and 8 are about Ground Systems and Research. In addition, 74 Student satellites are scheduled for launch this year that is coinciding with Azadi Ka Amrit Mahotsav, celebrating the 75th year of India’s Independence.

India came up with many reforms in 2020 to boost the space sector. These included creation of Indian National Space Promotion and Authorization Centre (IN-SPACe) under DOS for promoting, handholding, authorizing and licensing private players to carry out Space Activities. The existing policies in the space domain are also being revised and new policies are being drafted to address policy frameworks for various areas such as SpaceCom, Remote Sensing, Technology Transfer, Navigation, Space Transportation, Space exploration and Space Situational Awareness. The draft Space Activities Bill has completed Public and Legal consultations and will be processed for further approvals for inter-ministerial consultations.

Need to Rejuvenate Rural Economy for Atmanirbhar Bharat

Buddha Purnima unites humanity all over the world for a common cause – to celebrate the three main events of the life of Buddha- his birth, enlightenment and nirvana. It builds awareness of the teachings of Buddha in a way that respects all cultures at a time when divisions on many counts are flagrant all over the world. Celebrated in several countries including Sri Lanka, Japan, China, Indonesia, Myanmar, Cambodia, Tibet and Mongolia, this day marks Lord Buddha’s day of enlightenment after almost eight years of complete sadhana or penance. The story holds a number of messages for the humanity all across the globe.

Buddha Purnima commemorates the life of a historical figure whose teachings have changed the lives of millions. There is no denying the fact that the words and preachings of Buddha and other great ascetics and spiritual teachers, like Lord Mahavira, Guru Nanak Dev, etc. have had a strong impact on people for centuries. Such illuminated souls used to have an influence so strong that it would turn folks into disciples, disciples into monks.

It is part of recorded history of this land that Buddha and Mahavir used to move from village to village with a big band of monks. The status of villages was such that they could prove to be good hosts for such a large number of guests. These seem to be very local affair i.e. managed at the village level itself. It is a matter of wonder as to how were these villages and rural settlements so organised and facilitating at that time. Catering to such a large troop for days becomes a heavy affair economically, resourcefully and spatially. A common pattern has been seen in expansion of various religions – Buddhism spread wherever Buddha traversed, Jainism spread with movement of Lord Mahavira, Bishnoi Panth with Guru Jambheshwar, and so on. Such a spread thus, is a result of a lifetime of spiritual journeys with villages or remote settlements being like pearls in a necklace. Similar excerpts are seen in stories of Ramayana & Mahabharatha where village settlements and forest and tribal folks have catered to great men/preachers along with their followers and associates. Villages thus seem to have played an important role in a planned and hospitable manner in India’s history. Similar strength of rural economy needs to be recreated today as empowering villages will mean deep-rooted and true development.

The hallmark difference of modern India vs the one of glorious past is the status of villages. Panchayats despite being a decentralized organization have not gotten to deliver on accountability and people’s participation objectives. At best, they are acting as Central and State Governments’ nodal agencies for implementation. Crux of the matter is dependence on the governments for Finances. Unless the tax raising capabilities get vested with Panchayats, real reforms and true empowerment will remain far cry. Further, the damages done by Land Acquisition Act 1894, Agriculture Act 1938 etc need to be reversed for rejuvenation of the sustainable village ecosystem. Damage had begun with Lord Mayo’s resolution (of 1870) on decentralization being adopted which took away the autonomy of village Panchayats to introduce British model of administration in India. Aatmanirbhar Bharat is not possible unless it’s villages become Aatmanirbhar Gaon once again.

Total number of villages in India is 5,93,731 where 72.2% of India lives today. Available and useful land for Agriculture in the country is around 3,946 lakhs acres, second largest in the world & is fit enough to produce food for entire globe. Thus, well-structured planning and implementation is key to rejuvenate and tapping the full potential of such an empowering resource.

Indian Defence Suiting up

Indian industries, especially the defence sector has grown leaps and bounds in the recent past, as country’s arms exports have grown nearly six times since 2014 i.e. from Rs. 1520 crore to a whopping Rs. 8434 crores. Ever since PM Modi launched the ‘Make in India’ initative in 2014, private industry players have displayed a newfound zeal and optimism to become vectors in erecting a self-reliant culture in Defence manufacturing. The government too went to lengths and relaxed norms, introduced well-thought measures, created a better ecosystem and breathing space for defence indigeneity in the country, all of which has resulted in reduced dependence of India on foreign-sourced arms and armaments.

In its efforts towards further bolstering the domestic defence ecosystem, the Defence Acquisition Council (DAC) has recently amended Defence Acquisition Procedure (DAP) 2020 for all modernisation requirements of the Defence Services and Indian Coast Guard indigenously. According to this, the Indian defence forces will now have to source all their modernization requirements from the domestic defence sector, with the outright import of weapons and platforms being resorted to only as an exception with the ‘specific approval’ of the Defence Minister and the DAC. Other amendments include measures to reduce the ‘financial burden’ on the Indian Defence industry while maintaining financial safeguards. The requirement of IPBGs (integrity pact bank guarantees) has been dispensed with, for instance, and EMD (earnest money deposit) will be taken as bid security for all acquisition cases costing over Rs 100 crore. Besides, the total order quantity will be split between shortlisted vendors, wherever viable.

The move will largely encourage wider participation and broad base the indigenous defence manufacturing sector in the country and may help the government meet its defence export target of Rs 35,000 crore by 2025. To boost defence exports, the defence ministry has also been eyeing various contracts with different countries. These include the selling of two Dornier military aircraft to the state of Sri Lanka and Light Combat Aircraft (LCA) Tejas to Malaysia in a deal expected to be around $900. Both the aircrafts have been manufactured by the state-owned Hindustan Aeronautics Limited (HAL). India had also signed a $375 million deal to export the BrahMos supersonic cruise missile to the Philippines in February this year. In December 2020, the Cabinet even gave a green signal to the sale of Akash missile systems to friendly foreign countries. MoD too has been signing defence deals with DRDO, BEL, HAL, Bharat Dynamics Ltd, etc. to acquire high-tech advanced multi-functional planes, drones, rifles, tanks to increase both country’s defence capabilities and foreign sellouts.

In what demonstrates India’s sharpened focus on getting a toehold in foreign defence markets, the government granted close to a thousand export authorisations last year, which was around four times the number approved five years ago. The approvals too have been given with speed and discipline. This resulted in attributing the nearly four-fold increase to the government’s export-friendly policies to tap new markets. Other big resolves by the government include revision of the 2016 Defence Procurement Policy into the Defence Acquisition Procedure 2020, giving ‘Buy Indigenously Designed, Developed and Manufactured’ category the top most priority for procurement of capital equipment,enhancing foreign direct investment (FDI) in the defence sector, new norms for Rationalisation of the development process, renewed thrust on indigenisation of weapons and systems, and rescinding a section of the Special Chemicals, Organisms, Materials, Equipment and Technologies (SCOMET) list that will further the growth figures of defence exports.

Tale of Indian UniqueCORNS

The new India is rapidly snowballing into a unicorn hub. Year 2021 proved to be a blockbuster year for startup funding as the country saw creation of 42 unicorns, a three times jump from 11 new unicorns in 2020 and nine in the previous year. More than $10 billion were raised by Indian startups in Q3 CY21 ( approx. 41% increase) driven largely by three sectors: FinTech, EdTech and SaaS. This was the first time that funding into privately-held Indian start-ups crossed $10 billion in a single quarter (Q3 CY21) across approximately 350 deals. What is most surprising on top of this is the fact that entrepreneurs, the government and the likes have started transitioning from the age of Unicorn to the age of Decacorn already. Every move and strategy of all the stakeholders involved, is now swirling around the same as India emerges as the third largest ecosystem for start-ups globally – after the US and China. As of January 2022, 46 companies globally have attained the decacorn status. India has four startups namely Flipkart, BYJU’s, Paytm and Swiggy – that have achieved this status.

A recent report named ‘Tech Unicorns Market landscape Report IV’ by venture growth investor – Iron Pillar, predicted that India will have more than 250 Unicorns by the year 2025. The report also highlights that the Unicorns in India include 58 global cloud companies, 59 B2C companies and 13 B2B companies. Indian companies are building cloud products for the world and are proving to be capital-efficient, as they have attained unicorn status with 42% less capital as compared to business-to-consumer (B2C) businesses. Iron Pillar expects more Indian companies to expand outside the subcontinent over the coming years and focus on the Middle East & Southeast Asian regions. The public listing of 12 unicorns is another indicator of the increasing maturity of the Indian tech ecosystem.

In January 2022, Union Commerce and Industry Minister Piyush Goyal had expressed hope that the startup community of India should nurture 75 more unicorns in 2022. His optimism was based on the massive funding the Indian startups were getting. Certain factors have led to such a rapid growth of Unicorns across the country. During the peak of the pandemic, Indian Entrepreneurs encashed the opportunity to not only contribute to the economy but also to contribute toward Covid-19 relief efforts. “It is raining Unicorns” has been the motto of the year 2021 with 44 unicorns joining the star status. The contributing factors for fueling such growth include – a thriving digital payments ecosystem, a large smartphone user base, digital-first business models, attractive government schemes and policies, and investors’ interest in India. Today, 1 out of 10 unicorns globally have been born in India. Overall, 2021 experienced an exceptional boom in this sector. Soonicorns too are waiting in line to contribute to the shining startup ecosystem of India.

India’s evolution as Electronics Manufacturing Hub

Semiconductors and displays are the foundation of modern electronics that will drive the next phase of digital transformation under Industry 4.0. Couple of favourable factors for India in this challenging industry are talented manpower and now a clarity of vision of policy framers. Indian origin engineers and scientists make upto 20 percent of global talent pool of this complex and tech-challenging industry. In terms of policy, what seems to have changed now is that there is a focused engagement of SMEs into this domain.

India recently announced the ambitious PLI scheme for semiconductor and display board production in the country and also passed approval of Rs. 2,30,000 crore to make India the global hub for electronics manufacturing (with semiconductors being the foundational building block). The initiative will assist firms engaged in silicon semiconductor companies (also known as fab), display fabs, sensor fabs, silicon photonics, semiconductor packaging & design, etc. through incentives & other provisions. Under the scheme, the cabinet cleared Rs 76,000 crore for semiconductor production and will also allow setting up of more than 20 semiconductor design, components manufacturing and display fabrication (fab) units over the next six years. Such a subsidy is expected to drastically bring down the cost of production and encourage more players across the country to set up semiconductors producing and related facilities. With several countries including the US, Taiwan, South Korea and Japan trying to leverage the opportunity created by the fast-growing global demand for semiconductors, India is also aiming to grab a slice of the $500-billion business (2021-22).

Domestic semiconductor consumption has been consistently growing at a healthy rate and need of the hour is accelerated progress on setting up chip manufacturing companies. In addition to meeting the challenges of technical complexity, Investment requirement is huge for any semiconductor fab unit. Electronic sector is one of the domains where 100% FDI is allowed under automatic route. Chipmakers are likely to get support beyond normal PLIs if they are really committed to India.

So far India manufacture chips for defence and space research at fab present within IISc, SCL Mohali, and few others places. Large scale manufacturing for consumer electronics and other high tech industries though is altogether a different ball-game. Technical complexity of the domain, Huge Investment requirements, availability of purest form of silica (raw material), very stringent cleanliness requirements at manufacturing site as well as huge water and uninterrupted power supply needs of this industry pose real challenge for India to match the competition of Taiwan, South Korea and China.

ISRO’s International Endeavours

The memory of transporting and assembling rockets and payloads on bicycles and bullock carts is still vivid in the minds of Indians. Today, far from it, ISRO has established a mark globally in the space sector by launching a total of 129 satellites of Indian origin. India has also led an incredible journey of launching a total of 343 foreign satellites belonging to 36 countries as of 14th February 2022, since 1975. Of this number, 39 are commercial satellites and the rest are nano-satellites.

The Indian Space Agency – ISRO has fostered the space ecosystem by opening avenues and opportunities for private players in the sector. Announcement of space sector reforms and the formation of IN-SPACe that regulates and promotes space sector activities brought in positive developments. Public Sector enterprise under the dept. of Space ‘NSIL’ has earned a Foreign Exchange revenue of about 35 Million US Dollars and 10 Million Euros during the last three years (2019-2021), by launching satellites of various private and international agencies. NSIL launched a total of 45 international customer satellites onboard ISRO’s PSLV during the last three years and has secured 4 Dedicated Launch service contracts for foreign satellite customers. Efforts are being made to use ISRO’s SSLV, PSLV, and GSLV-MkIII for such launches as well. Through launching foreign satellites, footprint of ISRO’s expertise is being ensured in building earth observation and communication satellites, providing launch and mission.

India’s space program stands out as one of the most cost-effective in the world. India has earned worldwide recognition for launching lunar probes, building satellites, ferrying foreign satellites up and has even succeeded in reaching Mars. Indian space programme has attracted global attention for its accelerated rate of development, with a critical appreciation for some of its extraordinary explorations, which include Mars Orbiter Mission (MOM) or Mangalyaan, Chandrayaan-2 Mission(India’s 2nd mission to the moon), AstroSat Mission (India’s 1st observatory mission for astronomy) and Aditya-L1 Mission (India’s 1st solar observatory in space). ISRO has forged a strong relationship with many industrial enterprises, both in the public and private sector, to implement its space projects.

India’s Polar Satellite Launch Vehicle (PSLV), is the protagonist behind providing launch service to international customers. The first such commercial service dates back to 26th May 1999, when KITSAT-3 of the Republic of Korea was launched onboard PSLV-C2 and DLR-TUBSAT of Germany along with India’s IRS-P4 (OCEANSAT).

India even holds a record of launching 104 satellites on a single rocket (PSLV-C37). This happened on 15th February 2017, when among the 104 satellites, 101 co-passengers were international customers, namely the USA (96), the Netherlands (1), Switzerland (1), Israel (1), Kazakhstan (1), and the UAE (1). The previous record was held by Russia of launched 37 satellites in 2014. In 2017, ISRO’s PSLV launched as many as 130 foreign satellites, the most in a year, followed by 2018 (60) and 2019 (50).

With an aim to flourish further, the Indian space Agency recently signed six agreements with four countries for launching foreign satellites from 2021-to 2023. 132 Million Euros would be earned through the launching of these foreign satellites on a commercial basis. As of 10th February 2022, India has a total of 53 operational satellites in space providing various identified services to the nation. 21 of these are communication satellites, 8 are Navigation satellites, 21 are Earth Observation Satellites and 3 are Science Satellites.

WHO to what of Tradition of Ayurveda

Is Ayurveda going to be the next export item to the world after Yoga? Ayurvedic practices are known to almost every Indian, believer or not, and it is from ancient Vedas. There always have been ask of scientific proof, objective evidence gathering, for ‘accepting’ it as modern scientific enterprise. This challenge has been taken head on since setup of AYUSH Ministry. Towards this end, few years back an agreement was signed with the United States to collaborate in research to establish a role for Ayurveda and other ancient forms of medicine in the modern world. And, now comes WHO’s first Centre for traditional medicine in Gujarat, India.

Traditional medicine as what defined by WHO means, “the sum total of the knowledge, skills and practices on the basis of the theories, beliefs and experiences indigenous to different cultures, whether explicable or not, used in the maintenance of health, as well as in the prevention, diagnosis, improvement or treatment of physical and mental illnesses.”

The establishment of the first and global out-posted Centre for traditional medicine in India sufficiently reflects the fact that the traditional medicines and wellness practices of India are very popular globally and this WHO Centre bound to focus on greater dissemination of ancient wisdom with modern scientific and technological research perspective at a global platform will go a long way in enhancing wellness in the society. According to the WHO data, around 80% of the world’s population is estimated to use traditional medicine to cater the world’s health-care need.

As the part of WHO’s overall traditional medicines strategy, this center will position AYUSH systems across the globe and provide leadership on global health matters pertaining to traditional medicine. It will ensure quality, safety, efficacy, accessibility and rational use of traditional medicine. It will also develop norms, standards, and guidelines in relevant technical areas, tools and methodologies for collecting data undertaking analytics, and assess impact.

India has made significant progress in the traditional medicine sector both at organisational level and gaining large scale public acceptance. And with the onset of the COVID-19 pandemic, Ayurveda, Yoga and other systems became an invaluable resource for the entire world in dealing the Covid-19 difficulties due to its holistic approach towards health and disease.

Economy, Collaboration and Diplomacy in Space Sector

Space Technology, over the years, has seen tremendous growth in multitude than originally envisaged. According to ISRO, many Non-Government-Private-Entities (NGPEs) in India have started engaging in space activities that are contributing to the growth trajectory with huge commercial potential. ‘Space Economy, Space Collaboration and Space Diplomacy’ are going to be the founding stone of the foreseeable future of the world economy and technology. Referring to the space economy while inaugurating North India’s first-ever space centre in Jammu, Union Minister of State for Science & Technology, Dr Jitendra Singh mentioned that India is already receiving revenue worth millions of Euros and US Dollars through the launching of foreign satellites.

The Global Space Sector is thriving. Over 65 countries have operated at least one satellite. Political and economic capital being invested in the space environment by governments and commercial entities is at record levels. Global Space Economy comprises the space industry’s core activities in-space manufacturing and in satellite operations, including others. The growing public-private factors contribute to the Space economy by providing space-related outputs, space derived products and services and the scientific knowledge arising from space research. The main segments of the space economy include manufacturing, services from satellite operators and consumer services.

At present India accounts for only about 2% of the space economy. With policy interventions in the right direction and public-private partnerships in the Indian space sector, India can capture a larger share of the global space economy. The budget allocation to these sectors is growing year after year. This year, the Department of Space has been allocated a whopping Rs 13,700 crores in the annual budget, Rs 7,456.60 crores of which is earmarked for capital expenditure. ISRO is expected to generate a revenue of Rs 219.14 crores from various launch activities in the year 2022-23, under its commercial wing NewSpaxe India Limited (NSIL). According to Budget, the Department of Space, between the years 2022 and 2023, plan to transfer 30 technologies for social, commercial ad other objectives.

A look at the numbers suggests that startups in the space sector have crossed a total number of 100, of which 47 were established in 2021. In 2019, only 11 new startups were added to the sector. According to the Economic Survey Report – 2022, as many as 47 new start-ups entered the Indian space sector in 2021, taking the tally to 101. More than 50 start-ups are working in the space sector and about 10 of them have funding of over Rs 50 crore or more, individually.

The government recently updated the SpaceCom and SpaceRS policies, liberalising the traditional satellite communication and remote sensing sectors. Under various space tech initiatives, the independent nodal agency IN-SPACe (Indian National Space Promotion and Authorization Centre) has received close to 40 proposals from large industries, MSMEs, Startups. These proposals will be responsible for covering a broad range of activities including – launch vehicle and satellite manufacturing, Earth Observation Application, communications etc. Last year, Agnikul and Skyroot, two space-based startups signed a Memorandum of Understanding (MoUs) with ISRO with the view to access facilities and expertise in developing and testing Space Launch Vehicle subsystems and systems.

These examples indicate the intervention of private players in the space sector and hence, the far-reaching reforms in the space sector are aimed at boosting private sector participation in the entire range of space activities. This spur in economic activities is surely going to open doors for collaboration and eventually evolve into critical tool for diplomacy – space diplomacy.