India and Australia's Space Industry bodies sign Cooperation pact
An agreement was signed between industry bodies from India and Australia, aiming to enhance collaboration within their respective space sectors. The space economy, valued at USD 450 billion, is poised for rapid expansion with the influx of private entities alongside traditional government-run space agencies. The Memorandum of Understanding (MoU) was established between India's Satcom Industry Association-India (SIA-India) and Australia's Space Industry Association of Australia (SIAA). This pact provides a platform for sharing expertise and developing best practices in crucial areas of space and defense. The MoU was finalized in the presence of Indian Chief of Defence Staff General Anil Chauhan and Australian High Commissioner to India, Philip Green.
"Recent developments between India and Australia in the space sector, including collaborative satellite projects, data sharing for weather monitoring, and joint research initiatives, showcase a promising era of partnership. Initiatives like Australia’s ISI fund, aimed at space sector partnerships, align with our shared vision", said Anil Prakash, Director General, SIA-India.
The signing of this agreement took place at the 'DefSat Conference & Expo', where India, recognized as a pivotal player in both defense and space sectors, aims to outline a path for a contemporary and forward-looking industry. The timing of this pact between the space industry associations of India and Australia coincides with the Indo-Pacific and Quad alliances, underscoring the opportunity for collaboration to promote mutual objectives.
"It enables the creation of business-to-business partnerships, facilitates capacity building, promotes skill development, and drives research and development initiatives. Our partnership with SIAA aims to foster innovation, facilitate knowledge exchange, and unlock business opportunities, thereby contributing to the overall growth of the global space sector", said Dr. Subba Rao Pavuluri, President, SIA-India.
Aligned with their dedication to nurturing international partnerships and propelling the worldwide space industry forward, both SIA-India and SIAA are actively engaged in significant space gatherings. In June 2024, SIAA will participate in the Indian Space Congress, convening industry luminaries, policymakers, and specialists to explore current trends, advancements, and avenues for collaboration within the space arena. Later in the year, SIA-India will participate in the International Astronautical Congress in Sydney, bringing together delegations from India and Australia to spearhead space cooperation. This international gathering will provide a forum for sharing perspectives, nurturing alliances, highlighting innovations in space technology, and promoting the theme of 'Sustainable Space: Resilient Earth'.
"Our respective space sectors are aligned in efforts to create space technology and services that have a meaningful impact on lives here on Earth. Across both space sectors, there is a keen interest from private capital to back an emerging sector. Emerging companies are harnessing a talent pool of young, educated, hard-working and enthusiastic workers building technology at an incredible rate and scale", said Jeremy Hallett, Executive Chairman of SIAA.
