Through satellite launches, ISRO makes $279 Million

28 Jul 2022 , 08:34 AM

According to Union Minister Jitendra Singh, ISRO has launched satellites for international customers, generating 279 million dollars in foreign currency, through its commercial arms, in front of the Lok Sabha on Wednesday.

In a written response to a query, Singh stated that ISRO had successfully launched 345 foreign satellites from 34 nations using the Polar Satellite Launch Vehicle in collaboration with its commercial arms (PSLV).

Singh stated, without providing a timeline for such launches, “Total foreign exchange earnings obtained by the launch of foreign satellites amounts to USD 56 million (one million=10 lakhs) and 220 million Euros roughly.” 220 million euros are equal to 223 million USD at the current exchange rate.

Three Singaporean satellites were sent into orbit by ISRO’s warhorse launch vehicle on June 30 during the most recent PSLV mission. DS-EO, NeuSAR, and SCOOB-1, three Singapore client satellites, were successfully launched by ISRO’s PSLV-C53 mission.

According to Singh, the PSLV-C53 was the second specifically designed commercial mission for NewSpace India Limited (NSIL), a Central Public Sector Enterprise under the DOS’s administrative jurisdiction.