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)
- Background: 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.
- Capital: NSIL is provided an authorised share capital worth Rs.100 crore and initial paid up capital of Rs.10 crore.
- Objective: NSIL’s main objective is to scale up industry participation in Indian space programmes.
- NSIL Roles and Responsibilty:
- 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.
- It will cater to emerging global market demand of commercial SSLV and will also provide satellite building and satellite-based services which includes outsource assembly of small satellites and upcoming SSLV, supply of sub-systems for various domestic and international application needs.
- It will enable space technology spin-offs via Indian industry interface.
- Upcoming Initiatives: NSIL would soon organise an interaction workshop with industry (in Bengaluru) where it would seek industry’s feedback and also their expression of interest to take a newer and larger share of work with ISRO.