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ISRO earned Rs 1,245 crore by launching foreign satellites in 5 years

Indian rocket Polar Satellite Launch Vehicle (PSLV) has lifted over 50 ton till date, out of which around 17 per cent consists of foreign customer satellites


twitter-logo BusinessToday.In        Last Updated: December 14, 2019  | 19:58 IST
ISRO earned Rs 1,245 crore by launching foreign satellites in 5 years
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Indian Space Research Organisation, apart from making India proud with its space missions, is also earning a lot of money for the government. In response to a question raised in Rajya Sabha, Jitendra Singh, Minister for Atomic Energy and Space, presented the data, which says that ISRO has earned over Rs 1,245 crore by launching satellites from 26 different nations in the last five years.

Additionally, the space agency helped collect Rs 91.63 crore in India's foreign exchange earnings in FY 2018-19. ISRO's launch income in FY19 was Rs 324.19 crore, whereas it earned Rs 232.56 crore in FY18.

K Sivan, Chairman of ISRO, said that Indian rocket -- Polar Satellite Launch Vehicle (PSLV) -- has lifted over 50 ton, out of that around 17 per cent consists of foreign customer satellites.

ISRO, on 11 December, had placed its latest radar imaging earth observation satellite RISAT-2BR1 into orbit using its PSLV rocket. PSLV also carried nine foreign satellites, along with Indian spy satellite under a commercial arrangement with New Space India Limited (NSIL).

Moreover, contracts with 10 countries -- US, UK, Germany, Canada, Singapore, Netherlands, Japan, Malaysia, Algeria and France -- were signed under commercial arrangements in the last five years. So far, India has launched 319 foreign satellites since 1999.

(With agency inputs)

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