NewSpace India Ltd. (NSIL), the government’s commercial arm, plans to invest Rs 10,000 crore over the next five years to use its satellites and launch rockets, top officials said. It is also in talks with the Indian Space Research Organisation (ISRO) to acquire its remote sensing and communication satellite, they said.
“We will invest Rs 2,000 crore a year over the next five years,” said D Radhakrishnan, NSIL’s director of technology and strategy, on Friday.
NSIL is in talks with the Department of Space to manage and operate two new communications satellites which the Indian telecom operator and Direct-to-Home are registered as customers. We have also submitted an application to five Indian firms to build a vehicle that will launch the workhorse polar satellite vehicle (PSLV) and is expected to shut down the dealer in five months, Radhakrishnan said. The first order will be five PSLV rockets.
NSIL also introduced the need for new satellites by communicating with various users and begin acquiring, owning, launching, and providing services, especially in the communications sector, said NSIL Chairman G. Narayanan.
