You are here: Home » Economy & Policy » News
Business Standard

Indian geospatial market can grow at 12.8% to Rs 63,100 cr by 2025-Report

India's geospatial economy is currently valued at Rs 38,972 crore and has potential to grow to Rs 63,100 crore at 12.8 per cent by 2025 end, according to India Geospatial Artha Report

Topics
National Geospatial Policy

Press Trust of India  |  Hyderabad 

Geospatial data

: India's geospatial economy is currently valued at Rs 38,972 crore and has potential to grow to Rs 63,100 crore at 12.8 per cent by 2025 end, according to India Geospatial Artha Report, released here on Tuesday.

The report, which was launched at the GeoSmart India 2021, in presence of Amit Khare, Advisor to the Prime Minister and Kiran Kumar, Vikram Sarabhai Professor, ISRO, says that if the Centre implements the three geospatial policies by 2022, which are currently in the draft stage, the country's Geospatial economy has the potential to double in a year.

The Centre is currently in the process of finalizing the draft (NGP) and the Indian Satellite Navigation Policy (SATNAV Policy). It has already implemented Guidelines for Geospatial Data (Guidelines for acquiring and producing geospatial data and geospatial data services, including maps) in 2021.

Speaking at the launch, Khare said evolving technologies in geospatial sector has brought about transformational changes whereby even an inch of a land in India can be mapped, thus providing solid backups for land reforms.

"Vaccinations in India is a remarkable example were technology and logistics were perfectly supported through the use of geospatial technology," he said.

The industry-defining report titled 'Geospatial Artha report: Indian Geospatial Market,

Economy, and Industrial Development Strategy', has been prepared under the aegis of the National Think Tank on Geospatial Strategy for New India.

India's geospatial economy is currently valued at Rs 38,972 crore and employs approximately 4,70,000 people across the country spread across the domestic market (including user industries, government services, and export services).

By 2025, the geospatial economy has the potential to grow to Rs 63,100 crore with employment in the sector rising to over 9,50,000 people, the report said.

"We have done a great job with policy reform, but it's not time to think of programs for industrial development strategy, which allow us to harness and take this growth from about eight per cent to 15 to 16 per cent ," Sanjay Kumar, CEO, Geospatial World said.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Tue, December 07 2021. 20:35 IST
RECOMMENDED FOR YOU
.