8 hours ago
- Business
- New Indian Express
Andhra Pradesh government to come up with Space Policy 4.0 soon
VIJAYAWADA: Chief Minister N Chandrababu Naidu has directed officials to draft the Andhra Pradesh Space Policy 4.0, aiming to put the State on top in the space sector, while attracting Rs 25,000 crore investments.
The space policy is expected to create 5,000 direct and 30,000 indirect jobs, fostering economic growth and innovation.
During a review meeting at his Undavalli camp office on Thursday, Naidu approved the establishment of Space Cities in Lepakshi and Tirupati, aligning with strategic goals for 2025-35.
The policy will lay emphasis on collaboration with educational institutions to engage students in the space sector, and encourage the creation of common infrastructure under the plug-and-play model.
Naidu also instructed the officials to form a technical committee to support this initiative, and invite leading communication firms to invest in the State.
Lepakshi Space City, spanning 500 acres, will focus on design, development, R&D, space startups, and innovation ecosystems.
New policy to offer capital subsidies up to 45% based on investment size
Meanwhile, Tirupati Space City will prioritise manufacturing, launch logistics, satellite and payload assembly, and avionics production.
The strategic location of the two cities — near Bengaluru for Lepakshi and Sriharikota-Chennai for Tirupati — enhance connectivity and growth potential. He also emphasised improving road connectivity from Tirupati to Sriharikota to support logistics.
To attract investors, the policy will propose capital subsidies ranging from 25% to 45% based on investment size, for micro (Rs 1–Rs 2.5 crore), small (Rs 2.5–25 crore), medium (Rs 25–125 crore), large (Rs 125–500 crore), and mega (above Rs 500 crore) units.
Special incentives are planned for women, BC, SC, ST, minority, and differently-abled entrepreneurs to promote inclusivity. Former ISRO Chairman S Somanath, joining via video conference, highlighted the global space sector's potential, noting that companies like Starlink, SpaceX, and Blue Origin are driving innovation.
He emphasised that the future lies in space technology, with India aiming to capture a larger share of the global space economy, currently at 2%. The Centre's Space Vision 2047 includes ambitious projects like Chandrayaan-4, Venus Orbiter Mission, Mars Lander Mission, and human spaceflight, targeting a human landing on the moon by 2040.
The Space Policy 4.0 aligns with these national goals, integrating technologies in electronics, aerospace, defence, and drones. By fostering innovation, offering attractive incentives, and building world-class infrastructure, the State aims to become a global hub for space technology.
