India to earn 1,142 crore in foreign exchange by launching foreign satellites on commercial basis

India would earn around 132 million euros (Rs 1,142 crores) from launching foreign satellites on a commercial basis, Minister of State for Space Jitendra Singh said on Thursday.

He said the Indian Space Research Organization (ISRO) had signed six agreements with four countries for the launch of foreign satellites during the year 2021-2023.

In a written response to a question posed today to the Rajya Sabha, Dr Jitendra Singh informed that around 132 million euros will be earned from launching these foreign satellites on a commercial basis.

ISRO has launched a commercial company NSIL (New Space India Ltd) under the Department of Space (DOS), to launch satellites belonging to other countries aboard the Polar Satellite Launch Vehicle (PSLV). To date, six launch service agreements have been signed with customers in four countries for the launch of foreign satellites into space aboard the PSLV during the period 2021-2023.

“A total number of 124 indigenous satellites have been put into Earth orbit, including 12 student satellites,” the minister said in a written response to a question from Rajya Sabha.

In another written response to a similar question, he said from 1999 to date, a total of 342 foreign satellites from 34 countries have been successfully launched aboard the Indian Polar Satellite Launch Vehicle (PSLV). on a commercial basis.

The Minister said that thanks to the launch of foreign satellites aboard Indian launchers, India has earned an income in foreign exchange of around 35 million dollars and 10 million euros in the past 3 years. “The type of foreign satellites that have been launched by the Indian launch vehicle include satellites mainly for Earth observation, science and technology demonstration purposes,” the minister said.