While presenting a report on July 19, the government told Lok Sabha that Antrix Corporation ltd (ACL) - the commercial arm for ISRO- earned Rs 45 crore by launching 29 foreign satellites. In the year 2015-16, ACL had reportedly earned a total revenue of Rs 230 crore.
On June 23 this year, PSLV-C38 had launched Cartosat-2 satellite weighing 712 kg and 30 co passenger satellites. Of the 30 nano satellites that made it to the space, 29 were from 14 foreign countries and one from Noorul Islam University from Tamil Nadu.
ISRO's new money-minting machine
Indian Space Research Organisation's (ISRO) PSLV has written a new chapter in the history of space exploration by launching 209 satellites from 28 countries in a single attempt, thus turning into a money-spinner for India's ISRO.
In the past three years from 2013 to 2015, ISRO had launched as many as 28 satellites for foreign customers that helped it earn 80.6 million Euros (which is equal to Rs 600 crore if today's currency rates were applied).
Reports say that ISRO's inter-planetary launches are cheaper than that of NASA. While ISRO had a total cost of $ 74 million (Rs 450 crore) on Mars Orbiter Mission (MOM), NASA's Mars orbiter MAVEN had a total cost of $672 million (approx Rs 400 cr).
Changing times
Between 1990 and 2014, ISRO had launched nearly 40 satellites for foreign countries which helped it earn Rs 484 crore.
Future scope
When a country invests to launch an expensive satellite, its key aim is to make sure that the satellite reaches the orbit successfully. A failed launch is not only a waste of funds but also time and effort. PSLV's record of over 200 successful foreign satellite launches is a valid reason to trust ISRO.
Reports say that the global space industry is worth $200 billion (Rs 12.8 Lakh crore) and the global satellite launch market is estimated to be worth Rs 36,000 crore and ISRO has a tiny 0.6% share in this. With countries opting for cheaper launch options, ISRO seems all set to expand its launch services.
Is it worth the money?
Each time India has tried making a mark in the space exploration sector, there has been a constant debate on whether this is worth all the money. When India had launched the Mars Orbiter Mission (MOM), it was marked as a moment of great pride.
At one end of the spectrum there is so much money being spent in launching satellites, while on the other the Sustainable Development Goals (SDG) still remain unaddressed.
While some might call it a waste of money, there are others who suggest that the revenue earned by ISRO can be put to use to fund various social schemes to address issues like poverty in India.
