India’s Geospatial Economy which is currently valued at around INR 41600 crore, and employing, 5,45,000 people, is poised to grow to INR 61,000 crores by the end of 2025, reported by the Geospatial Strategy for National Development report that was unveiled at the GeoSmart India 2022 conference, in Hyderabad.
The report highlights that the Indian geospatial industry is transitioning to become a solutions industry instead of a services industry – with more focus and demand for fit-for-purpose solutions.
According to the report, Defence and Intelligence, Utilities, Urban Development, Infrastructure Development, Agriculture, Utilities, and Land Administration are expected to drive the growth in the market.
The report also brings in a reality check on the impact of the delay in the policy implementation. The 2021 version of the report predicted that the Indian geospatial economy could grow to around INR 80,000 crore by 2025, if the government implemented the three draft policies and initiates the geospatial industrial strategy in 2022.
However, today, in Nov 2022, the policies are still in draft stage, and challenges are foreseen in the actual implementation of the Guidelines of Geospatial Data.
The report highlights that the true objectives of the Guidelines – easy and open access to geospatial data, and enhanced use across sectoral workflows, is still not happening at the rate as could have been expected and therefore, requires a Guideline implementation framework, along with a formalization of the draft policy framework.
The report, which has been prepared by Geospatial World, was released in the presence of Honourable Minister of Jal Shakti Gajendra Singh Shekhawat, Dr. Prakash Chauhan, President, ISRS, Dr. Raj Kumar, President, ISG, Secretary, and Dr. M. Ravichandran, Ministry of Earth Sciences.
Presenting the report, Ananya Narain, Director – Consulting, Geospatial World, “While the Guidelines are a positive step in India’s geospatial growth journey and has had a positive impact on the adoption of technology, more can be done with formalization of policy framework and a well-defined Industrial Development Strategy – defined by a dynamic and adequate implementation framework is required to achieve India’s vision of achieving INR 1 lakh crore Geospatial Economy by 2030.”
For more information, download the Geospatial Strategy for National Development from the Geospatial World’s Knowledge Hub.
For more information, download the Geospatial Strategy for National Development report from Geospatial World’s website.
