NewSpace India Limited

Summary

NewSpace India Limited (NSIL)
TypePublic Sector Undertaking
Industry
Founded6 March 2019; 2 years ago (2019-03-06) [1]
HeadquartersHFSC Building, ISRO HQ, New BEL Road, ,
Key people
G. Narayanan (CMD)
Radhakrishnan Durairaj (ED) [2]
Services
OwnerDepartment of Space (DoS) [3]
Websitensilindia.co.in

NewSpace India Limited (NSIL) is a Public Sector Undertaking (PSU) of Government of India and commercial arm of Indian Space Research Organisation (ISRO). It was established on 6 March 2019 under the administrative control of Department of Space (DoS) and the Company Act 2013. The main objective of NSIL is to scale up industry participation in Indian space programmes.[4]

The Finance Minister of India, 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

  1. ^ "New Company for Commercial Exploitation of Research and Development (Under The Company Act 2013)". 27 June 2019. Retrieved 21 December 2019.
  2. ^ "NSIL functional directors". Retrieved 15 July 2020.
  3. ^ "NSIL About Us". Retrieved 21 December 2019.
  4. ^ "ISRO's new commercial arm NewSpace India officially inaugurated". smartinvestisor.business-standard.com. The Smart Investor. 27 August 2019. Archived from the original on 27 August 2019. Retrieved 27 August 2019.
  5. ^ 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.
  6. ^ "NewSpace India Limited". Press Information Bureau, Government of India. 24 July 2019. Retrieved 26 August 2019.