New Space India Limited
NewSpace India Limited (NSIL) is a Central Public Sector Enterprise of Government of India. It was established on 6 March 2019 under the administrative control of Department of Space (DOS), India. The main objective of NSIL is to scale up industry participation in Indian space programmes.[4]
Public Sector Undertaking | |
Industry | |
Founded | 6 March 2019[1] |
Headquarters | HFSC Building, ISRO HQ, New BEL Road, Bengaluru, Karnataka , India |
Key people | G. Narayanan (CMD) Radhakrishnan Durairaj (ED) [2] |
Services |
|
Owner | Department of Space[3] |
Website | Official Website |
Indian Finance Minister Nirmala Sitharaman in her Budget speech on 5 July 2019, mentioned the establishment of NSIL.[5]
Objectives
NSIL was setup with the following objectives.[6]
- Transfer of Small Satellite technology to industry: NSIL will obtain license from DOS/ISRO and sub-license the same to Industry
- Manufacture of Small Satellite Launch Vehicle (SSLV) in collaboration with Private Sector
- Production of Polar Satellite Launch Vehicle (PSLV) through Indian Industry
- Production and marketing of Space based products and services, including launch and application
- Transfer of technology developed by ISRO Centres and constituent units of DOS
- Marketing of spin-off technologies and products/services, both in India and abroad
References
- "New Company for Commercial Exploitation of Research and Development". 27 June 2019. Retrieved 21 December 2019.
- "NSIL functional directors". Retrieved 15 February 2020.
- "NSIL About Us". Retrieved 21 December 2019.
- "Isro's new commercial arm NewSpace India officially inaugurated – The Smart Investor". business-standard.com. 27 August 2019. Archived from the original on 27 August 2019. Retrieved 27 August 2019.
- Narasimhan, T. E. (5 July 2019). "Budget 2019: FM hikes Dept of Space outlay, pushes for commercialisation". Business Standard India. Archived from the original on 27 August 2019. Retrieved 27 August 2019.
- "NewSpace India Limited". Press Information Bureau, Government of India. 24 July 2019. Retrieved 26 August 2019.
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