ISRO’s Success: Earning Over Rs 4000 Crore by Launching Satellites for Other Countries
In a recent revelation, Jitendra Singh, the Minister of State in the Prime Minister’s Office, announced that the Indian Space Research Organisation (ISRO) has achieved a significant milestone by earning over Rs 4000 crore through launching satellites for other countries. This accomplishment not only showcases the technical prowess of ISRO but also highlights India’s growing presence in the global space industry.
Private investments and earnings from launching satellite launches for other countries
Singh underlined the exponential growth of the space startup sector, which escalated from a single entity in 2019 to over 190 presently, attracting private investments exceeding Rs 1,000 crore. Singh drew comparisons with NASA, highlighting that half of NASA’s resources come from private companies and emphasizing India’s progress in private space launches.
“In 2019, there was only one space startup, and now it has grown to 190. More than Rs 1,000 crore has been invested in the space industry. We used to confine ourselves with self-imposed restrictions, comparing ourselves to NASA. But we forget that half of NASA’s resources come from private companies. Today, American and Russian satellites are being launched from our end,” he said.
ISRO has been actively involved in launching satellites for various countries, catering to their communication, earth observation, and scientific research needs. Over the years, ISRO has gained a reputation for its reliability, cost-effectiveness, and efficiency in satellite launches. This has attracted several international clients who have entrusted ISRO with their satellite deployment missions.
The revenue generated from these commercial launches has not only bolstered ISRO’s financial standing but has also contributed to the overall growth of the Indian space sector. The funds earned are reinvested in research and development activities, infrastructure expansion, and the enhancement of launch capabilities, further strengthening India’s position as a leading player in the space domain.
ISRO’s success in the commercial satellite launch market is a testament to the dedication and hard work of the organization’s scientists and engineers. Their relentless pursuit of excellence, coupled with India’s advanced space technology, has enabled ISRO to establish itself as a reliable and competitive player in the international arena.
Singh shed light on forthcoming missions, stating that the postponed Gaganyaan mission is set to send a humanoid robot into space in early 2025, followed by the launch of India’s first astronaut into space by mid-2025.