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In reply to a question in Lok Sabha, the minister of state in the Prime Minister’s office Jitendra Singh said the government has already set up NewSpace India Limited (NSIL) under the administrative control of Department of Space (DOS) on March 6, 2019 to commercially exploit the research and development work of Indian Space Research Organisation (ISRO) centres and constituent units of DOS.
He said that the NSIL was set up to meet the ever-increasing demands of Indian space programme and to commercially exploit the emerging global space market.
“A total of 239 satellites were commercially launched by Antrix Corporation Limited during the last three years. The total revenue from operations during the last three years is Rs 6289.05 crore,” he said.