Press Trust of IndiaJun 28, 2019 17:45:40 IST
ISRO has formed the NewSpace India Limited (NSIL), a public sector undertaking (PSU) that will commercially exploit the research and development work of the space agency, co-produce PSLV and launch satellites through SSLVs, the government said on Thursday.
The functions of NSIL will involve small satellite technology transfer to industry, manufacturing of Small Satellite Launch Vehicle (SSLV) — a product which is being developed by the ISRO — in collaboration with the private sector and production of Polar Satellite Launch Vehicle (PSLV).
The new company will also look after the productionisation and marketing of space-based products and services, including launch and application, developed by ISRO centres and the constituent units of the Department of Space and marketing spin-off technologies and products and services both in India and abroad.
Minister of State in the Prime Minister's Office Jitendra Singh shared this information in a written response to a question in the Rajya Sabha.
"NSIL would enable Indian Industries to scale up high-technology manufacturing and production base for meeting the growing needs of the Indian space program and would further spur the growth of Indian industries in the space sector," he said.
Antrix Ltd is another PSU under the Department of Space that acts as a commercial arm of ISRO.
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