STATE-OWNED NEWSPACE CREATES A FLUTTER AMONG SPACE STARTUPS
05, May 2019
Prelims level : Science & Technology Mains level : Technology, Economic Development, Bio diversity, Environment, Security and Disaster Management
Why in News
- Department of Space (DoS) quietly registered its second commercial entity, NewSpace India Ltd. (NSIL), in Bengaluru.
- The small, new age ventures and startups foraying into the space industry were still coming
- to terms that the Union Cabinet had cleared a new business arm for DoS
- DoS already has a commercial venture, Antrix Corporation Limited, which was set up in September 1992 to market the products and services of the Indian Space Research Organisation (ISRO).
- officials in the DoS and ISRO have been trying to figure out how exactly Antrix and NSIL would operate their respective businesses in the common, niche area.
- the department [DoS] is completing statutory formalities such as the formation of a board of 8-10 directors,” Their roles and responsibilities will be divided. The new company will basically focus on industry participation.
- NewSpace India enters the scene at a time when globally and in India small, low-budget new age ventures, many helmed by young dreamers inspired by entrepreneur Elon Musk’s Space Exploration (SpaceX), are vying to turn 21st-century space fantasies into reality.
- The new company does have mandates: transfer technology to industry for producing the commercially successful PSLV spacecraft launchers; outsource assembly of small satellites and the upcoming Small Satellite Launch Vehicle (SSLV). It would also be tasked to “commercially exploit the R&D work done by ISRO centres and DoS constituents”.
- A lot of new [business] activities are cropping up, such as customer satellites, spinoff technologies, industry participation, production partners, ground stations, and satellite data sales
- Marketing arm of ISRO for promotion and commercial exploitation of space products, technical consultancy services and transfer of technologies developed by ISRO.
- Antrix Corporation Limited is a wholly owned Government of India Company under the administrative control of the Department of Space, Government of India.
- Antrix Corporation Limited was incorporated as a private limited company owned by Government of India, in September 1992 as a Marketing arm of Indian Space Research Organization (ISRO) for promotion and commercial exploitation of space products, technical consultancy services and transfer of technologies developed by ISRO.
- Antrix is engaged in providing Space products & services to international customers worldwide.
- Antrix, which is an INR 950 Cr. Company in 2007-08 got the “Miniratna” status by the Government of India in 2008.