11 May 2004 05:14
INDIA BANKS ON GALILEO SATELLITES (Government of India will invest $200-250 million in Galileo)
Government of India will invest $200-250 million in Galileo global satellite positioning and navigation system. The
system is designed for civilian purposes and is a substitute to the American global positioning system and the Russian
GLONASS system. It will lead to the development of universal services in sectors such as transport, telecommunications,
agriculture or fisheries.
Galileo comprises a constellation of 30 satellites and it will be launched in 2008. Indian Space Research
Organisation is likely to enter into a cooperation agreement with the European Commission in this regard.
[India Business Insight] |
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