‘Artha’ (; Sanskrit: अर्थ), in Sanskrit, has multiple meanings, all translating into ‘means of life’ – defined as purpose, value, wealth, and economy. Since its inception in 2012, and after the second summit held in May 2018, the geospatial industry has advanced rapidly. Driven by strategic geospatial-related policy initiatives in 2020-2021, geospatial knowledge is expected to create significant ‘Artha’, transforming and enhancing the socio-economic development in the country.
In a world where a shared economy dominates the way we produce and consume, the geospatial way is the most efficient and effective way to achieve national goals. The deregulation of geospatial data for Indians is going to boost the economy by manifold. The reforms are not only augmenting the Indian geospatial industry’s growth but are also advancing the IT industry’s interest as geospatial forms a part of every process of IT and engineering solutions and enabling a shift towards ‘self-reliant’ India. The impact of this can be seen on the Indian Geospatial Economy which is estimated to grow to INR 50,000 crores and INR 100,000 crores by 2025 and 2030, respectively. Furthermore, efficient and effective usage of geospatial information across the government’s national mission projects and otherwise is expected to add almost 2% growth to overall GDP, helping India’s vision of becoming a US$ 5 trillion economy by 2025.
The ‘geospatial transformation’ of the Indian economy is at the forefront of India’s growth story. It is an excellent opportunity for the vibrant entrepreneurial community to develop a robust and valuable industrial ecosystem. Geospatial World’s, Geospatial Artha Summit’s- third Edition will bring together thought leaders and policy influencers of geospatial tools and technology to discuss and deliberate upon the following key aspects –
- Implications of geospatial policy on Indian geospatial market and economy
- Role of geospatial knowledge infrastructure in national mission projects
- Indian geospatial industry outlook and future trends and directions