Table of Contents
WHAT JUST HAPPENED ?
- The Indian Space Research Organisation’s (ISRO) new commercial arm called NewSpace India Limited (NSIL) was officially inaugurated in Bengaluru.
ABOUT NEWSPACE INDIA LIMITED (NSIL)
- On 6 March 2019, the Department of Space (DoS) registered its second commercial entity called NSIL in ISRO. The first commercial venture of DoS was Antrix Corporation Limited, which was set up in September 1992 to market products and services of Indian Space Research Organisation (ISRO).
- The NSIL was incorporated for commercially utilising research and development (R&D) activities carried out by ISRO in area of space.
ANTRIX CORPORATION LIMITED
- It was awarded ‘Miniratna’ status by the government in 2008
NEWSPACE INDIA LIMITED
- NSIL was incorporated on March 6 2019, for commercially utilising research and development activities carried out by ISRO in the area of space with an authorised share capital of Rs 100 crore and initial paid up capital of Rs 10 crore.
NEWSPACE INDIA LIMITED
- Sivan, the chairperson of the Indian Space Research Organisation (ISRO), told Times of India that the said entity will be a link between ISRO and the industry and help transfer its technologies to private firms for a fee.
NSIL ROLES AND RESPONSIBILITY
- It will act as an aggregator for all space related activities in industry. It will also develop private entrepreneurship in space related technologies.
- It will be responsible for production and manufacturing of commercially successful Small Satellite Launch Vehicle (SSLV) and Polar Satellite Launch Vehicle (PSLV) spacecraft launchers via technology transfer mechanisms.
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