Telengana Launched the First Space-Tech Framework

The Telangana government launched its first space-tech Framework to encourage private participation in the space industry in line with the recent reforms by the Union government. The framework was launched with an aim to establish the state as a ‘globally recognised one-stop destination for space technology’.

The launching event was hosted on ‘metaverse’ - the first such official event in India conducted by a government. A space-themed metaverse environment was custom-developed along with custom avatars of the key dignitaries for the launch event. Hyderabad-based tech company ‘Gamitronics’ developed the essential blockchain technology for the event and the metaverse platform was launched by the firm PartyNite.

The purpose of the framework was that the technology developed by Indians is built in the country and then exported globally. So that, the economic share in the space industry will grow to $558 billion by 2026.

State’s SpaceTech NFT collection was also launched in the event, with an aim to use the collected NFT funds to support a technology-enabled social impact project. 

   Important points for the exam:

• The government of Telangana launched its first space-tech Framework with an objective to develop the state as a globally recognized destination for space technology.
• By 2026, the economic share of the space industry is expected to grow to USD 558 billion in the state.
• Telangana is the first government in the India to host the official event in a platform called ‘Metaverse’.
• An NFT collection which includes real-world objects like art, music, in-game items and videos was also launched in the event.

    Facts to know:

• Capital of Telangana: Hyderabad.
• Chief Minister of Telangana: K. Chandrashekar Rao.
• Governor of Telangana: Tamilisai Soundararajan.