For Every Rupee Spent On ISRO, Return On Investment Is A Huge 2.54 Times

A new report suggests that for every rupee spent on the Indian Space Research Organisation (ISRO), the return on investment has been of the order of 2.54. Financial experts call that an "amazing" rate of return.

The Indian space agency known for its frugal innovations and cutting edge technology is also a very safe harbour for investment. A new report suggests that for every rupee spent on the Indian Space Research Organisation (ISRO), the return on investment has been of the order of 2.54. Financial experts call that an "amazing" rate of return.

"ISRO has indeed touched the lives of every Indian, poor or rich alike," ISRO Chairman Dr S Somanath told NDTV. "The investment made in the space programme has immensely benefited the society, just the economic impact of money spent in space in India has been 2.5 times the investment," he said.

A new report 'Socio-Economic Impact Analysis of Indian Space Programme' prepared by the European space consulting giant Novaspace, headquartered in Paris, suggests that cumulatively over the last decade the Indian space sector has stimulated the national economy to the tune of $60 billion, supported 4.7 million jobs, and boosted public funds to the tune of $24 billion in tax revenues.