IlluMyFi

Nations like India, which is widely seen as a worldwide powerhouse for economic growth, stand to benefit greatly from the burgeoning space technology sector. The value of space technology is projected to surpass $360 billion by 2025, since it has expanded beyond exploration to include satellite communication, earth observation, and many new applications. Opportunities like these present themselves to India's rapidly expanding space program, which is being spearheaded by ISRO. By forming smart partnerships and investing strategically, India can strengthen its place in the spacetech ecosystem while also advancing telecommunications, agriculture, and disaster management. This would allow it to make a substantial impact on the global space economy. The Indian government has taken a significant step toward bolstering private space technology companies with the launch of IN-SPACe. The government is actively working to promote economic growth and fulfil societal demands through the space-tech industry, which has far-reaching effects. The private sector in last few years has been allowed to use ISRO facilities and other relevant assets to improve their capacities. This change promoted innovation in a sector which was far fetched dream for many, created jobs, and now helping people improve their abilities using the data from space. It is critical to have access to business prospects and finance, in addition to governmental backing. In an interview sometime back, Ratan Tata said, "Space technologies and applications are expected to contribute significantly to industrial growth hence possibility of private investment in spacetech industry will ensure adequate growth." India is well-positioned to take advantage of the growing space technology industry because to a combination of public programs, commercial funding, and a cooperative environment. In the current phase of India's space-tech journey, the emergence of a collaborative alliance among private players, akin to the transformative hand-in-hand evolution witnessed in the late 1980s through NASSCOM, holds the potential to propel the nation to unprecedented heights. The synergy of private enterprises pooling their strengths and resources can foster innovation, accelerate technological advancements, and elevate India's standing in the global space arena. Drawing inspiration from the collaborative spirit that catalysed the IT revolution, envisioning a shared future where private space-tech entities unite for collective growth and progress is not only exciting but also a testament to the limitless possibilities that lie ahead. It is within this unity that we find the catalyst for breakthroughs that can redefine the trajectory of India's space-tech narrative and, in doing so, contribute significantly to the nation's scientific, economic, and inspirational legacy.The writer is CEO- Sanchi Techstarter Pvt Ltd READ SOURCE

Sentiment

Bearish/Bullish

13.01.24 11:43

by businesstelegraph.co.uk

It will take some time for client spending to revive: HCLTech's C Vijayakumar -...

Publication of the minutes of the last meeting of the US Federal Open Market Committee (FOMC) early January led to a surge in the National Stock Exchange's technology index, which has gained 9% in a month on expectations of an early resumption to the rate-easing cycle in the world's biggest market for Indian outsourcing. However, the commentary by Federal Reserve policymakers has had little concrete impact on most of its clients, HCLTech CEO C Vijayakumar tells ET, as discretionary expenditures by most US companies remain circumspect. Still, HCLTech, India's third-largest software exporter with a market capitalization of Rs 4.18 lakh crore, beat analysts' estimates to report a 6.2% net profit growth in the December quarter. In the absence of an immediate resumption in the expenditure cycle, HCLTech would harness deal conversions, a diversified R&D portfolio, and rising demand for generative AI to boost both its top and bottom-lines in the near term, Vijayakumar said in the post-earnings interview. Edited excerpts: Elevate Your Tech Prowess with High-Value Skill Courses Offering College Course Website Indian School of Business ISB Product Management Visit IIM Kozhikode IIMK Advanced Data Science For Managers Visit MIT MIT Technology Leadership and Innovation Visit What is your assessment of the broader demand environment? Maybe, there is a little more confidence, but it's too early for it to turn into a discretionary spending increase. Right now, we don't see a difference between the last quarter and this one. It is the same environment. Probably, it will take some more time for the macro indicators to translate into (purchase) decisions. The markets are factoring in a quick recovery (due to the Federal Reserve comments). But I would want to look at really what's happening with the client and see how this impacts spending. So, I would say the environment has been the same as what it was in the last quarter. You said engineering, research, and development (ER&D) demand will drive growth in Q4. Are you witnessing strong demand there? If you look at the ER&D space, we service a very wide set of industries, starting from technology companies to telecom service providers, telecom OEMs, and a lot of industrial engineering, automotive, medical devices, and semiconductor companies. We have a wide cross-section of industries. Now, in the past few quarters, we have grown the ER&D business. Initially, when we saw growth in the September quarter, we were still cautious. In the December quarter as well, we saw some good growth and I see some growth in the March quarter as well. So, overall, we have seen good momentum in our ER&D business (accounting for 16% of revenue), and it is across industries. How sustainable is the record margin expansion you have reported in Q3? Discover the stories of your interest Our margin guidance is 18 to 19%. And we will be within the guided range in Q4 as well. Margins in the December quarter are very high because it's a seasonally strong quarter for the soft...