A new company by name, “New Space India Limited (NSIL)”, has been incorporated on 06^th March 2019, as a wholly owned Government of India Undertaking / Central Public Sector Enterprise (CPSE), under the administrative control of Department of Space (DOS) to commercially exploit the research and development work of Indian Space Research Organisation (ISRO).

Mandate of NSIL includes viz. (i)  Small Satellite technology transfer to industry wherein NSIL will obtain license from DOS/ISRO and sub-license it to industries; (ii) Manufacture of Small Satellite Launch Vehicle (SSLV) in collaboration with Private Sector; (iii) Productionisation of Polar Satellite Launch Vehicle (PSLV) through Indian Industry; (iv) Productionisation and marketing of Space based services, including launch and application; (v) Transfer of technology developed by ISRO Centres and constituent institutions of DOS; and (vi) Marketing of spin-off technologies and products, both in India and abroad and (vii) any other subject which Government of India deems fit.

     With the activity plan and the mandate set for NSIL, Indian industries are likely to see a major spur in their growth in the space sector. This initiative would further enable scaling up the manufacturing and production base in Indian industries towards meeting the growing needs of Indian space programme and exploiting the opportunities available in the global space market.

    All the involved technologies related to ISRO’s small satellite and its sub-systems that could be transferred to Indian industries for productionisation which eventually would cater to national demand as well as commercial needs of domestic and global market. This activity is also likely to give rise to several spin-off technologies that could be marketed nationally and globally.

        Through the sale of products related to small satellite, sub-system technology and the spin off products in domestic and global market, foreign exchange revenue will be generated.

This information was provided by the Union Minister of State (Independent Charge) Development of North-Eastern Region (DoNER), MoS PMO, Personnel, Public Grievances & Pensions, Atomic Energy and Space, Dr Jitendra Singh in written reply to a question in Rajya Sabha today.

****

 

VRRK/NK/JM/PJ

(Release ID: 1592832) Visitor Counter : 1057