Space industry bodies from India and Australia ink pact to further cooperation

Industry bodies from India and Australia signed a Memorandum of Understanding (MoU) on Wednesday (February 7) aimed at furthering co-operation between space sectors of both the countries. The space economy, currently pegged to be worth USD 450 billion is expected to see rapid growth in coming years with more private players entering the field in addition to traditional space agencies run by governments.

The MoU is between the Satcom Industry Association-India (SIA-India) and the Space Industry Association of Australia (SIAA). This has established a platform for the exchange of expertise and the formulation of best practices in critical areas of space and defence. The MoU was inked in the presence of the Indian Chief of Defence Staff General Anil Chauhan and the 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, aligns with our shared vision," said Anil Prakash, Director General, SIA-India.

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This agreement was signed during the 'DefSat Conference & Expo', where India, a key player in defence and space domains is poised to chart a roadmap for a modern and future-ready sector. The timing of this pact between the space industry bodies of both nations, aligns with the Indo-Pacific and Quad partnerships between India and Australia, signifying the potential for cooperation to advance shared interests.

"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.

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In line with this commitment to fostering international collaborations and advancing the global space sector, both SIA-India and SIAA are actively participating in key space events. In June 2024, SIAA will take part in the Indian Space Congress, where industry leaders, policymakers, and experts will come together to discuss the latest trends, innovations, and collaborative opportunities in the space domain.

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Later in the year, SIA-India will take part in the International Astronautical Congress in Sydney, where Indian and Australian delegations will unite in pioneering space collaboration. This global event will serve as a platform for exchanging insights, fostering partnerships, and showcasing advancements in space technology and delivering on the theme of ‘Sustainable Space: Resilient Earth’.

"Our respective space sectors are aligned in efforts to create space technology and services which have a meaningful impact for 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.