In the last three years, Antrix Corporation, the commercial arm of Indian Space Research Organisation (ISRO), launched 239 satellites overall, amassing revenue of ₹6,289 crore.

On Wednesday, the minister of state in the Prime Minister’s Office, Jitendra Singh, in reply to a question in the Lok Sabha, stated that the government had established the NewSpace India Limited (NSIL), a public sector undertaking (PSU), on March 6, 2019.

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 – Jitendra Singh, Member of the Lok Sabha

NSIL, which is administered by the Department of Space (DoS), aims to meet the boom in the demands of the Indian space program and to commercially exploit the emerging global space market, by making commercial use of the research and development work of ISRO centers and constituent units of DOS.

NSIL will carry out several functions including transferring small satellite technology to industry, sub-licensing the license it will obtain from ISRO and DOS to industries, and co-producing Small Satellite Launch Vehicles (SSLVs) with Private Sector, and Polar Satellite Launch Vehicle (PSLV) with Indian Industry.

NSIL would enable Indian Industries to scale up high-technology manufacturing and production base for meeting the growing needs of the Indian space program and would further spur the growth of Indian industries in the space sector – Mr. Singh

NSIL will also produce and market space-based products and services, and spin-off technologies and services both in the country and abroad.