Defense, Water Resources and irrigation, urban development & Utilities to be growth drivers
India’s geospatial economy is currently valued at ₹38,972 crore, but has potential to grow to ₹63,100 crore at 12.8% by 2025 end according India Geospatial “Artha” Report, released here today.
The report which was launched at the GeoSmart India 2021, in presence of Mr. Amit Khare, Advisor to the Prime Minister and Dr. Kiran Kumar, Vikram Sarabhai Professor, ISRO, states that if the Government of India implements the three geospatial policies by 2022, which are currently in the draft stage, the Indian Geospatial economy has the potential to double in an year’s time.
The Indian government is currently in the process of finalizing the draft National Geospatial Policy (NGP) and draft of 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 Mr. Khare said, evolving technologies in geospatial sector has brought about transformational changes whereby even an inch of a land in India can be mapped there by providing solid backups for Indian land reforms. “Vaccinations in India is a remarkable example were technology and logistics were perfectly supported through the use of geospatial technology,” he added.
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 ₹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 ₹52,770 crore with employment in the sector rising to over 9,50,000 people.
“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 percent to 15 to 16%,” said Sanjay Kumar, CEO, Geospatial World.
The Indian geospatial market is expected to grow to ₹23,200 by 2025 from its current size of ₹14,050 at CAGR of 13.36%. Defense and intelligence, water resources and irrigation, construction, and utilities will continue to lead the growth of the Indian geospatial market. It’s expected that the defense and the intelligence sector will be valued at ₹3305 crore by 2025, while water resources and irrigation sector will be worth ₹5020 crore, urban development will account for ₹3030 crore, and utilities segment will touch ₹2,600 crore.
“Geospatial technology and geospatial knowledge-base is going to make a significant change in the way India is going to adopt this technology and move forward especially since the world is looking at India about how it is going to tackle its problems,” asserted Dr Kiran Kumar.
In tandem with the use of geospatial technology, India’s economy is projected to grow by 9.5% in 2021 and 8.5% in 2022 (IMF). The economy at present, in the context of quarterly performance, is on a W-shaped recovery or in the double-dip phase, after which the country is estimated to maintain a sustained economic growth of 8% from 2023. The recovery is forecasted on the basis of the strategic reforms of the Government of India, particularly the government’s production linked incentive (PLI) scheme to boost Foreign Direct Investment (FDI), labor reforms, digital transformation initiatives (including geospatial technologies), infrastructure investment drive, National Monetization Pipeline, and accelerated vaccination drives across the country.
In tandem with the use of geospatial technology, India’s economy is projected to grow by 9.5% in 2021 and 8.5% in 2022 (IMF). The economy at present, in the context of quarterly performance, is on a W-shaped recovery or in the double-dip phase, after which the country is estimated to maintain a sustained economic growth of 8% from 2023. The recovery is forecasted on the basis of the strategic reforms of the Government of India, particularly the government’s production linked incentive (PLI) scheme to boost Foreign Direct Investment (FDI), labor reforms, digital transformation initiatives (including geospatial technologies), infrastructure investment drive, National Monetization Pipeline, and accelerated vaccination drives across the country.
Today, the geospatial technology ecosystem is a complex entity of multiple interactive components, inclusive of geospatial data sourced from various technologies broadly segmented into four categories – Geographic Information System (GIS), earth observation (satellite, aerial, and street imagery), and scanning tools and technologies (LiDAR, RADAR and Ground Penetrating Radar). The geospatial information collected from these sources is presented in many forms and mediums, including digital maps, satellite imagery, point clouds, and aerial imagery. The spatial data reinforces the importance of the ‘location’ reference frame, which facilitates societal, economic, and environmental use across government systems and other national development initiatives.
In a landmark move in February this year the Indian Government announced new geospatial guidelines for acquiring and producing geospatial data and services including maps and data. While the step has liberalized geospatial data acquisition and has simplified cumbersome certification and license process, the new guidelines have paved way for democratization of geospatial data generated out of public funds.
