HYDERABAD: The Telangana government on Monday launched its SpaceTech Framework to support the participation of private industry in the space technology sector and thereby increase India’s share in the global market growing at a CAGR of 5.6 per cent to reach $558 billion in 2026.
The vision of the framework is to establish Telangana as a globally recognised one-stop destination in space technology. Under the framework, the government seeks to build an ecosystem where advancement of space technology is increasingly done within India both by supporting indigenous development and attracting global companies. For the launch event, a space-themed Metaverse that allows interaction with nearby attendees without disrupting the event proceedings, was carried out. The same was spearheaded by the Emerging Technologies Wing and implemented by a Hyderabad startup named Gamitronics.
S Somanath, Chairman, ISRO assured that he would support Telangana’s move in space technology. “I am happy to see industries coming forward in taking up higher roles in the space sector. We will make sure that private entities, entrepreneurs, startups and industries play a meaningful role in the space sector,” he said.
Amitabh Kant, CEO, NITI Aayog was all praise for the TS government for coming up with the spacetech framework. “It is an immense pleasure to see Telangana taking a big leap in space sector. With initiatives like this, it allows innovators to customise and build the business models for space solutions,” he added.