Karnataka government to come up with independent space policy for startups and Msmes by Q4 2024

(MENAFN-KNN India)
Bengaluru, August 10 (KNN) The state government plans to introduce a standalone space policy by the end of the fourth quarter of 2024, with a focus on fostering innovation and growth in the startup ecosystem and micro, small and medium enterprises (SMEs).

IT Minister Priyank Kharge revealed in an exclusive interview to The Times of India that the new policy will focus on four key areas: skill development, incubation, innovation and research.

“We are consulting at all levels to ensure the policy meets the needs of startups, SMEs and the broader aerospace industry,” Kharge said.

The initiative to develop a separate space policy was first proposed late last year. The state government is confident that the policy will create a strong framework to harness the potential of the private sector, strengthening its leading role in the space industry — a sector naturally associated with the state given the ISRO headquarters in Bengaluru.

Kharge emphasized the growing opportunity in the private space market and the urgent need for the state to start building capabilities not just for space but for the broader aerospace sector. “We need to start building things now, not just for space but for the entire aerospace industry,” he said.

While the details of the new policy are still being worked out, the Information Technology Minister confirmed that the official launch will take place on December 31, 2024.

This policy is a continuation and extension of the Aerospace and Defence Policy 2022-2027, which previously included a chapter on space.

This policy involved the establishment of Special Economic Zones (SEZs) in aerospace and defence parks, aimed at attracting companies focused on export markets and space-related activities.

In terms of applications, the previous policy highlighted potential opportunities in satellite-based communication services, forest cover mapping, coastal zone monitoring and space-based data for weather forecasting.

It is still unclear how many of these proposals will be incorporated into the new policy, but the move is consistent with the Centre’s broader ambition to increase India’s share in the global space economy by supporting and expanding the role of private industry.

The country’s commitment to an exclusive space policy reflects its strategic vision to lead the space sector and leverage its rich aerospace heritage. Once finalized, the policy is expected to set a new benchmark for space exploration and technological advancement in India.

(KNN Office)

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