Why in news?

• New Space India Limited (NSIL) has been incorporated as a wholly owned GoI Undertaking/Central Public Sector Enterprise (CPSE).
• Antrix Ltd is another PSU under the Department of Space that acts as an commercial arm of the ISRO

New Space India Limited (NSIL):

• It functions under the administrative control of Department of Space (DOS).
• It aims to commercially exploit the research and development work of ISRO Centres and constituent units of DOS.
• The NSIL would enable Indian Industries to scale up high-technology manufacturing and production base for meeting the growing needs of Indian space programme/
• It would further spur the growth of Indian Industries in the space sector.

Functions of NSIL:

• Small Satellite technology transfer to industry, wherein NSIL will obtain license from DOS/ISRO and sub-license it to industries;
• 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 spin-off technologies and products/services, both in India and abroad