New Delhi, March 26 NewSpace India Limited (NSIL), the commercial arm of the Indian Space Research Organisation (ISRO), has reported Rs 3,026.09 crore in revenue in FY25 to date, an impressive 43 per cent growth from Rs 2,116.12 crore in FY24, the Parliament was informed on Wednesday.
NSIL, which has launched 135 international customer satellites and three Indian satellites on commercial basis (as of now), reported Rs 1,242.12 crore in profit before tax (PBT) this fiscal to date, up a robust 54 per cent from Rs 803.59 crore in FY24, informed Dr Jitendra Singh, Union Minister of State for Science and Technology and Department of Space, in a written reply in the Lok Sabha.
NSIL enables Indian industries to take up high-technology space-related activities. It has signed a contract with HAL for end-to-end manufacturing of 5 Polar Satellite Launch Vehicles (PSLV).
The first fully Indian industry-manufactured PSLV would be launched during the second half of this year.
According to the minister, NSIL has plans to expand its commercial space business through public-private partnerships (PPPs) model as well.
Towards this, NSIL is considering realising ISRO’s heavy lift launcher LVM3, under a PPP partnership approach, due to its large commercial potential in the global launch service market.
According to the minister, the space economy is expected to increase fivefold from $8 billion to $44 billion in the next few years. This growth will make a value addition to the Indian economy and move towards Viksit Bharat in 2047.
Under the leadership of Prime Minister Narendra Modi, the space budget has almost tripled -- from Rs 5,615 crore in 2013-14 to Rs 13,416 crore in 2025-2026, reflecting the government’s commitment to fostering growth in the space sector.
The space industry has been opened up for private sector participation and for bringing in foreign direct investment (FDI).
The strategic approach is creating synergy between the government and non-government sectors through frameworks such as the NSIL and In-SPACe, boosting innovation and opportunities across the space industry.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor