In an Innovative Summit held on December 11, 2023, at the Indian Embassy in Paris, the Indo-France space & Geospatial Business Summit emerged as a catalyst for collaboration, emphasizing a meaningful partnership between Indian and French geospatial and space industries. Jointly organized by Geospatial World Chamber of Commerce and Principality of Monaco, Geospatial World, with Euroconsult as a supporting partner, the summit witnessed the convergence of industry leaders committed to fostering innovation and growth for the bilateral relationship of India and France.
Indian Ambassador to France, Honourable Jawed Ashraf, taken the lead by urging companies to establish enduring relationships, echoing sentiments later emphasized by Sanjay Kumar and Tushar Phadnis. The summit addressed pressing challenges such as urbanization and biodiversity conservation, with Nicolas Paparoditis, Deputy General Director of IGN – France underscoring the pivotal role of reliable datasets and the integration of space technology in tackling these issues effectively such as yearly orthoimages and land cover maps using a blend of space and aerial imagery.
The summit also spotlighted the exponential growth of the Indian geospatial market, projected to exceed INR 63,000 crore (approximately $8 billion) by 2025, and the remarkable achievement of the Indian space industry, already valued at $9 billion. Pacome Revillon, CEO of Euroconsult, provided insights into the dynamic market dynamics shaping the global space economy, fueled by innovations and evolving business models.
The key highlights of the summit extended beyond mere business transactions, promoting holistic partnerships that leverage India’s evolving geospatial and space arena. The discussions shed light on the complex relationship between emerging technologies like AI/ML and the geospatial and space industries, underlining the transformative potential of this synergy.
The keen interest of French geospatial and space companies in India, recognizing it as a promising market. However, the need for clearer policies, Double Taxation Avoidance Agreements (DTAA), and an understanding of taxation benefits were emphasized as crucial to facilitate seamless business expansion.
In essence, the Indo-France space & Geospatial Business Summit not only strengthened bilateral ties but also laid the foundation for a collaborative, innovative future, where the integration of technologies and shared expertise propels both nations towards new frontiers in the geospatial and space domain.