Indian Space Research Organisation (ISRO) officially inaugurated its commercial arm – NewSpace India Limited (NSIL) in Bengaluru. The main objective of NSIL is to scale up the industry participation in Indian Space programmes.
ISRO’s honorary adviser Dr K Kasturirangan inaugurated NSIL, in the presence of Chairman Dr K Sivan.
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.
NSIL will act as an aggregator for all space related activities in industry and develop private entrepreneurship in space related technologies.
Specifically, it will be responsible for manufacturing the and production of Small Satellite Launch Vehicle (SSLV) and Polar Satellite Launch Vehicle (PSLV) through technology transfer mechanisms. It will also cater to emerging global commercial SSLV market demand, providing satellite building and satellite-based services, including supply of sub-systems for various domestic and international application needs and will enable space technology spin-offs through Indian industry interface.
NSIL would soon be organising an interaction workshop with industry in Bengaluru, wherein it would seek industry’s feedback as well as their expression of interest to take a newer and larger share of work with ISRO.