ISRO earned Rs 6,289 cr by launching 239 satellites

New Delhi, July 24 (IANS) Antrix Corporation, the commercial arm of Indian Space Research Organisation (ISRO), launched 239 satellites earning Rs 6,289 crore revenue, the government informed the Lok Sabha on Wednesday.

Replying to a question, Minister of State in Prime Minister's Office (PMO) Jitendra Singh also said the government had set up NewSpace India Limited (NSIL), which would replace the Antrix Corporation.

NSIL, under the administrative control of the Department of Space (DoS), will commercially exploit research and development work of the ISRO and other DoS units. NSIL had been set up to meet the ever-increasing demands of Indian space programme and to commercially exploit the emerging global space market, he added.

It would spur Indian industries' growth in the space sector and enable them to scale up manufacturing and production base, he said.

Presenting the Union Budget for 2019-20 earlier this month, Finance Minister Nirmala Sitharaman had said India had emerged as a major space power with the technology and ability to launch satellites and other space products at low cost.

NSIL would spearhead commercialisation of various space products, including launch vehicles and technologies, she said.

The cost of Chandrayaan 2, launched on Monday, is Rs 978 crore. In 2017, India launched 104 satellites in one mission.