Home » India Grossed $35 Million, 10 Millionn Euros For Launching Foreign Satellites

India Grossed $35 Million, 10 Millionn Euros For Launching Foreign Satellites

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India has earned foreign exchange revenue of about $35 million and 10 million euros by launching 45 international customer satellites on board ISRO’s PSLV rockets during the last three years, the Parliament was told on Wednesday.

New Space India Ltd (NSIL), a CPSE under the Department of Space, has already launched 45 international customer satellites on-board ISRO’s PSLV during the last three years and has secured four dedicated launch service contracts for foreign satellite customers, Science & Technology Minister Jitendra Singh told the Lok Sabha in a written reply.

The Minister said that with the emergence of global broadband communication needs, NSIL envisages launches of several of these foreign satellites on-board ISRO’s SSLV, PSLV, and GSLV MK-III.

“NSIL, through participation in various international conferences and exhibitions, is ensuring a better foot print of ISRO’s expertise in building earth observation and communications satellites, providing launch and mission support services including establishment of ground segments for foreign customers to ensure enhanced foreign exchange revenue earnings for the country,” he added.

Jitendra Singh also said that the government has opened up the space sector for private players with the announcement of space sector reforms and formation of IN-SPACe, an independent body under Department of Space, to regulate and promote private sector activities.

He said, there are 48 applications received to IN-SPACe for undertaking space activities and their applications are being processed for further action. Out of these, the applications with respect to authorising space activities to non-government private entities (NGPEs) are 16 and sharing of technology and facilities of DoS to NGPEs are 23 and Consultancy & Promotion are 9. All the proposals of NGPEs are at different stage of approvals.

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