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Indian Space Sector Targets Rs 219 Cr Revenue From Launch Services

Rahul Bhagat
Rahul Bhagat
Rahul Bhagat is a Digital Marketer and strategist with more than 7 years of experience in Marketing, SEO, Analytics, Marketing Automation and more.

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India’s Department of Space (DoS) is targeting revenue of Rs 219.14 crore from commercial launch services and also plans to put into orbit 10 satellites with its rockets during 2022-23.

The space sector also targets a revenue of Rs 11 crore from the sale of remote sensing data and data products.

As per the budget papers presented to the Parliament on Tuesday by Finance Minister Nirmala Sitharaman, the DoS is targeting to complete two test rocket launches for the prestigious Rs 10,534.5 crore Gaganyaan, India’s human space mission, during FY23.

The government said during the year; five satellites will be launched using Polar Satellite Launch Vehicle (PSLV)/rocket, two satellites with Geosynchronous Satellite Launch Vehicle (GSLV), one with GSLV-Mk III rocket, and two satellites with the new Small Satellite Launch Vehicle (SSLV).

The DoS and its arms are targeting to transfer 30 technologies for social/commercial and other purposes during 2022-23.

One earth observation and one navigation satellite will be launched next fiscal.

The percentage completion of qualification and validation of Crew Escape System and Parachute system of the human space flight rocket for next year will be 48.5 percent. The readiness for the Indian human space flight during 2022-23 will be 50 percent.

For 2022-23, the DoS has asked for Rs 13,700 crore budgetary allocation up from the revised estimates of Rs 12,642 crore for 2021-22.

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