 "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, 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 National Geospatial Policy (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.
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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.)