• NewSpace India Limited (NSIL), the commercial arm of Indian Space Research Organisation (ISRO), was inaugurated in Bengaluru. NSIL’s main objective is to scale up industry participation in Indian space programs. NSIL was inaugurated by ISRO’s honorary adviser, Dr.K Kasturirangan in the presence of chairman Dr. K Sivan.

BACKGROUND:

• NSIL was incorporated on March 6, 2019, for commercially utilizing research and development activities carried out by ISRO in the area of space with an authorized share capital of Rs.100 crore and initially 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.
• 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 the 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 organizing an interactive 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.