NSIL has won four contracts to launch remote sensing satellites on both the PSLV as well as the upcoming small satellite launch vehicle (SSLV).

NewSpace India Ltd (NSIL), the commercial space undertaking of the government, plans to invest Rs 10,000 crore over the next five years to own and operate satellites and rockets to launch them and is in talks with the country’s space agency to acquire its fleet of remote sensing and communication satellites, its top officials said.

“We will invest Rs 2,000 crore per year for the next five years,” D Radhakrishnan, Director, Technical & Strategy of NSIL told reporters on Friday.

NSIL is in talks with its parent Department of Space to own and operate two new communication satellites for which an Indian Indian telco as well as a DTH provider has signed up as customers. The company did not disclose customer names.

The company has also floated a request for proposal (RFP) to five Indian companies to build the workhorse Polar Satellite Launch Vehicle (PSLV) and expects to close the vendor in five months, he said. The initial order would be for five PSLV rockets.

NSIL is also drawing a requirement for new satellites in consultation with various users and start procuring, owning and launching and providing services, primarily in the communication sector, NSIL Chairman G Narayanan said.

NSIL has been formed as a government-run entity to offer commercial services to clients globally as well as local customers. It will also collaborate with Indian rocket start-ups to offer launch services to small satellite customers globally.

The government is setting up Indian National Space Promotion and Authorisation Centre (In-Space), as a regulator to ensure fair play for the private space technology firms in the country.

NSIL has won four contracts to launch remote sensing satellites on both the PSLV as well as the upcoming small satellite launch vehicle (SSLV). SSLV, a rocket that is designed to hurl satellites of less than 500 kg into low earth orbit is expected to make its first launch later this year.