What happened?
Union Minister Jitendra Singh informed the Lok Sabha on March 12, 2025, that India has launched 393 foreign satellites and 3 Indian commercial satellites between January 2015 and December 2024, generating $143 million and €272 million (approximately $415 million) in revenue. The launches were carried out using the Polar Satellite Launch Vehicle (PSLV), Launch Vehicle Mark-3 (LVM3), and Small Satellite Launch Vehicle (SSLV). India has provided launch services to 34 countries, including the United States (232 satellites), the United Kingdom (83), Singapore (19), and Canada (8). The government has also initiated reforms such as establishing the Indian National Space Promotion and Authorization Centre (IN-SPACe) to facilitate private sector participation, a ₹1,000 crore Venture Capital Fund for space startups, and a revised Foreign Direct Investment (FDI) policy to attract global investments in India’s space sector.
Why it matters to India
India’s commercial space sector is rapidly expanding, positioning the country as a cost-effective and reliable satellite launch provider. By liberalizing the space sector and supporting private investment, India aims to increase its share in the $400 billion global space economy. Expanding its space capabilities strengthens national security, economic growth, and technological innovation, reinforcing India’s status as a key player in the global space industry.