Capitalism in space: India’s space agency ISRO on Wednesday revealed to that country’s parliament that its record-setting 104 satellite launch on June 23 earned about $7 million.

On June 23 this year, PSLV-C38 had launched 712-kg Cartosat-2 satellite along with 30 co-passenger satellites. Of the 30 nano satellites, while one belonged to Noorul Islam University from Tamil Nadu, the rest 29 were from 14 foreign countries. On Wednesday, the government informed the Lok Sabha that the launch of 29 foreign satellites helped Antrix Corporation Ltd (ACL), the commercial and marketing arm of Isro, earn Rs 45 crore (6.1 million euros).

Before the June 23 multiple launch, Isro made the world record when its PSLV C37 launched 104 satellites in one go on February 15 this year. However, the space agency did not reveal how much it earned from that record-breaking launch. Out of the 104 satellites, 96 were from the US, three from India and one each from Israel, Kazakhstan, the Netherlands, Switzerland and the UAE.

From an American perspective it is encouraging that U.S. companies dominated the satellite count. From India’s perspective, the profits here are only going to encourage that nation to push for more rockets and cheaper costs.

The one problem I see with this is that it is the government that is obtaining the profits, not private Indian citizens or companies. Such an arrangement will not be good for India in the long run, as it encourages the government to use its coercive power to squelch private competitors.