Geospatial economy poised to grow `61K crore: Union Min Gajendra Singh Shekawat

Hyderabad: The nation is progressing rapidly in field of technology and in the current boom of technology-led start-ups, there are around 250 Geospatial start-ups' in the country which reflects the spirit of innovation, said Union Minister of Jal Shakthi Gajendra Singh Shekawat.

Delivering keynote address at a 3-day conference GEO SMART INDIA 2022 held in the city on Tuesday, Shekawat said that various Geospatial pilot projects were implemented in the domains of Agriculture, rural development, forestry, water resources management, urban planning which showed the strength and progress of the country in this direction.

The Minister said, "Recognising water as the source of life, the Government of India has taken numerous steps to address the issue, while emphasizing on the use of technology for the purpose". Previously, water was a subject which was dealt by almost nine Ministries. The present government has integrated the work of these various Ministries and brought them under the Ministry of Jal Shakti, he added.

The focus on establishing a sound hydrological database and information system and scientific tools for effective planning and management of water resources within each implementing agency of governance raised the need for easy-to-access geospatial knowledge. For making this knowledge accessible to stakeholders at all levels, there is a need for collaborative development of a geospatial infrastructure which encompasses data, policies, processes, and people, he said.

He also emphasized that the government, industry, and academia must join hands to develop this geospatial knowledge infrastructure to support holistic national development encompassing both rural and urban development, and economic, social, and environmental parameters. Later, the two reports Geospatial Artha, Geospacial Strategy for National Development were released.

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. India's Geospatial Economy which is currently valued at around Rs 41600 crore, and employing, 5,45,000 people, is poised to grow to Rs 61,000 crores by the end of 2025 .