Chennai, Jan 29 (IANS): India's share in the global satellite launch services revenue increased to 1.1 percent in 2015-16, said the Economic Survey tabled in Parliament on Monday.

According to the Survey, the country's share in the global satellite launch services revenue went up to 1.1 per cent in 2015-16 from 0.3 per cent in 2014-15.

The survey states that Antrix Corporation - the commercial arm of Indian Space Research Organisation (ISRO) - foresees greater utilisation of rockets like Polar Satellite Launch Vehicle (PSLV), Geosynchronous Satellite Launch Vehicle (GSLV) and GSLV Mk-III by the international community for launching their Low Earth Orbit (LEO) satellites.

In the case of satellite launching, as on March 2017, PSLV successfully launched 254 satellites.

Foreign exchange earnings of India from export of satellite launch services increased noticeably in 2015-16 and 2016-17 to Rs 394 crore and Rs 275 crore from Rs 149 crore in 2014-15.

In a recent interview to IANS, ISRO Chairman K. Sivan said India will be using its own rockets for launching communication satellites and reduce the use of satellite launch services of foreign space agencies.

This in turn would reduce the outgo of foreign exchange.