Forex earnings of $35M, €10M in 3 years from satellite launches for NSIL, Govt

New Space India Limited (NSIL), a central public sector enterprise (CPSE) under the Department of Space, earned foreign exchange revenue of about $35 million and €10 million during the last three years (2019-2021) by launching satellites of various private and international agencies, the government said on Wednesday.

NSIL 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, Minister of State for Atomic Energy and Space Jitendra Singh said in a written reply to a question in the Lok Sabha.

“With the emergence of global broadband communication needs, NSIL envisages launches of several of these foreign satellites on-board Indian Space Research Organisation’s SSLV, PSLV and GSLV-MkIII. NSIL through participation in various international conferences and exhibitions is ensuring 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 said.

The minister further 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 the Department of Space which will regulate and promote private sector activities.

“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 authorizing the space activities to Non-Government Private Entities (NGPEs) are 16 and sharing of technology and facilities of DoS to NGPEs are 23 and consultancy and promotion are 9. All the proposals of NGPEs are at different stage of approvals,” he said.

In a separate reply, Singh said that at least seven satellites are likely to be launched by ISRO during the current year. PTI