Indian space industry offers tremendous opportunity for private players, says ISRO Chief
Kochi (PTI): ISRO Chairman S Somanath has said the Indian space industry is offering a tremendous opportunity to the private sector in the country as a new area of growth and development.
He said the union government envisages the space sector in the country to become a 9 to10 billion dollar industry in the next 5-10 years from the current levels of 2 billion dollars.
Somanath was speaking after unveiling the carbon reduction initiative of SFO Technologies, the flagship company of the NeST Group, in a function here on Saturday, a company release said.
He also said that 400 private sector companies have benefited from the technology developed by ISRO for its various missions.
Companies like SFO Technologies are well positioned to take further advantage of the new policy initiatives in the space sector by the government of India.
"The Indian space industry is offering a tremendous opportunity for the private sector in the country as a new area of growth and development," the ISRO chief added.
Besides planting a sapling at the NeST Hitek Park to mark the occasion, Somanath also unveiled a replica of Chandrayaan at the campus highlighting the cooperation of SFO Technologies and ISRO.
He interacted with the NeST engineers and management team later.
The Carbon Reduction initiative of the NeST Group is in tune with the United Nations' objective of achieving a 50 percent reduction by 2035 and zero emissions by 2040, the release said.
SFO Technologies has close association with ISRO for many years, it said adding that the two have worked in multiple programmes such as the RF sub-systems for Chandrayaan and Aditya Missions, manufacturing of Antenna Systems, and Cryogenic Engine Control Systems for launch vehicles.
NeST Group Chairman N Jehangir said discussions are on with ISRO for various projects including the ambitious 'Gaganyaan' mission, aiming to carry human beings to the space for the first time.
SFO Technologies and NeST Group are committed to protecting the environment and reducing carbon emissions, said Althaf Jehangir, CEO and Executive Director, SFO Technologies, Hardware and Manufacturing.
He also said that they have signed agreements with multiple partners to create a model of being a socially responsible organisation by minimising carbon pollution.
Nazneen Jehangir, CEO and Executive Director, Nest Digital, also spoke on the occasion, the release added.
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Bill to regulate deepfakes tabled in Lok Sabha
New Delhi (PTI): A Private Member's Bill seeking a clear legal framework for regulation of deepfakes has been introduced in the Lok Sabha.
The Regulation of Deepfake Bill, introduced by Shiv Sena leader Shrikant Shinde in the House on Friday, aims to protect citizens by mandating prior consent from individuals depicted in deepfake content.
"Misuse of deepfakes for harassment, deception and misinformation has escalated, creating an urgent need for regulatory safeguards," Shinde said.
The Bill also lists penalties for offenders creating or disseminating deepfake content with malicious intent.
"With advancements in artificial intelligence and deep learning, deepfake technology has emerged as a significant tool for media manipulation. While the technology has potential applications in education, entertainment and creative fields, it also poses severe risks when misused, threatening individual privacy, national security and public trust," Shinde said in the statement of objects and reasons in the Bill.
The proposed Bill seeks to establish a clear legal framework to govern the creation, distribution and application of deepfakes in India, said Shinde, a three-term Lok Sabha member from Kalyan.
The Bill also seeks to establish the Deepfake Task Force, a dedicated body to combat national security implications and evaluate the influence of deepfakes on privacy, civic participation, and potential election interference.
The task force will collaborate with academic and private sector institutions to develop technologies that detect manipulated content, thereby promoting credibility in digital media.
The Bill also proposes to establish a fund to support public and private sector initiatives in the detection and deterrence of advanced image manipulation.
A Private Member's Bill is a procedure of Parliament that enables lawmakers, who are not ministers, to draw attention to issues that might not be represented in Government Bills or to highlight the issues and gaps in the existing legal framework that require legislative intervention.
