India Earned US $35 Mln, 10 Mln Euros for Launching Foreign Satellites

NEW DELHI (IANS) – India has earned foreign exchange revenue of about US $35 million and 10 million euros by launching 45 international customer satellites on board ISRO’s PSLV rockets during the last three years.

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.

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-MkIII.

India 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.

Thus far there are 48 applications received by IN-SPACe for undertaking space activities and their applications are being processed for further action.