India Earns USD 143 Million In Foreign Exchange From Satellite Launches

India has earned a staggering USD 143 million in foreign exchange by launching foreign satellites between 2015 and 2024, Union Minister of State (Independent Charge) Jitendra Singh revealed in a written reply to the Lok Sabha.

The revenue was generated through the commercial launch of foreign satellites aboard Indian Space Research Organisation’s (ISRO) PSLV, LVM3, and SSLV launch vehicles.

Launch Of Foreign Satellites

From January 2015 to December 2024, India successfully launched a total of 393 foreign satellites along with three Indian customer satellites. These launches have made India a significant contributor to global space activities.

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Notably, the country has launched satellites for 34 nations, including technologically advanced countries. The breakdown of foreign satellite launches includes:

• United States: 232 satellites
• United Kingdom: 83 satellites
• Singapore: 19 satellites
• Canada: 8 satellites
• Other countries, including Korea, Luxembourg, Italy, and Germany, also contributed to the total.

The total figure highlights India’s growing presence in the global space market, positioning itself as a reliable launch provider for countries worldwide.

Strengthening Global Space Cooperation

India’s space partnerships have expanded significantly. Space cooperation agreements are currently in place with 61 countries and five multilateral bodies.

These collaborations span multiple areas, including satellite remote sensing, satellite navigation, satellite communication, space science, planetary exploration, and capacity building.

This growing network of partnerships reflects India’s increasing influence in space technology and exploration.

India’s Space Achievements And Future Goals

India has solidified its position as a space power with a series of back-to-back successes. Notably, in 2023, India made history with the successful soft landing of the Chandrayaan-3 on the Moon’s South Pole.

In addition, India’s first solar mission, Aditya-L1, achieved great success, further demonstrating the country’s advanced capabilities in space exploration.

Looking ahead, India is preparing for its ambitious Gaganyaan mission, which aims to demonstrate its human spaceflight capabilities.

Scheduled for launch later this year, Gaganyaan will send Indian astronauts into space and safely return them to Earth.

The four astronauts selected for the mission have undergone training at the renowned Yuri Gagarin Cosmonaut Training Center in Russia, where Rakesh Sharma, India’s first astronaut, also trained in 1984.

A Boost For India’s Private Space Sector

India’s recent successes have not only enhanced its global space standing but also provided a significant boost to the country’s private space sector.

The opening up of the Indian space sector to private companies in 2020 has given rise to a strong network of Indian space startups, which continue to innovate and contribute to the country’s space ambitions.

India’s space goals are set to expand even further, with plans to establish the ‘Bharatiya Antariksha Station’ by 2035 and send an Indian astronaut to the Moon by 2040.

With these milestones, India is well on its way to becoming a global leader in space exploration and commercial space activities.