Dr. Jitendra Singh, the Union Minister of State (Independent Charge) for Science & Technology; MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy, and Space, revealed today that between 2014 and 2023, India launched a total of 396 foreign and 70 domestic satellites. In comparison, from 2003 to 2013, the country launched 33 foreign and 31 domestic satellites.
In a written response in the Lok Sabha, Dr. Jitendra Singh disclosed that the revenue garnered from satellite launches between 2014 and 2023 amounted to USD 157 million and 260 million Euros. Conversely, during the period from 2003 to 2013, these figures were USD 15 million and 32 million Euros, respectively.
Highlighting the growth trajectory, Dr. Jitendra Singh noted that the annual budget allocated to the Department of Space surged from Rs. 6,792 Crores in FY 2013-14 to Rs. 12,544 Crores in FY 2023-24.
Moreover, he referenced global estimates and news sources projecting a 6-8% growth rate for the sector in the upcoming years.