The New Space India Limited or NSIL is a Central Government run Public Sector Enterprise stated that it has plans to invest around Rs. 10,000 crore over the next five fiscal years. NSIL has been allocated Rs. 700 crore by the Union Government in this budget 2021-22. NSIL has also been paid an amount of Rs. 10 crore and an authorized capital of Rs. 100 crore.
NSIL plans to capitalise this demand for launch of commercial satellites among other services to raise revenue. Four dedicated launches are lined up over the couple of years, with its revenue mostly earned through services, the officials commented. “We have contracts for four more dedicated launches but our NDAs (non-disclosure agreements) prevent us from revealing more details. All are foreign satellites”, added Radhakrishnan Durairaj, executive director of NSIL said on Friday in Bengaluru.
The 18 co-passenger satellites onboard the Polar Satellite Launch Vehicle (PSLV)-C51, considered the workhorse of the space agency, included four from IN-SPACe and 14 from NSIL. Only one of the 14 commercial satellites was from India while the remaining 13 were from the USA. ISRO has put 342 customer satellites from 34 countries into orbit so far.
There are other global players like SpaceX, led billionaire Elon Musk among others are also on the market for commercial launches of private satellites for various applications like communications, broadband, DTH, GPS and earth monitoring.
“NSIL has established itself as a major space service provider in a very short period and in the not so distant future, you will see it emerging as a key player in all areas of space sector and space-based services in India with a significant global presence,” NSIL chairman and managing director C Narayanan said.
The first commercial mission of the NSIL was Amazonia-I. In addition, NSIL has also floated Request for Proposals to five Indian companies to build PSLV launch vehicles which will be through licensed production.