New Space India Limited Incorporated – Department of Space 08/07/2019 – Posted in: Press Information Bureau
New Space India Limited incorporated
(Department of Space)
WHAT
While presenting General Budget 2019-20, Smt. Nirmala Sitharaman said that a Public Sector Enterprise viz. New Space India Limited (NSIL) has been incorporated as a new commercial arm of Department of Space.
It will provide benefits in the Research & Development carried out by Indian Space Research Organization.
ADVANTAGES
- The Company will spearhead the commercialization of various space products.
- It will also spearhead the production of launch vehicles, transfer to technologies and marketing of space products.
- With NSIL, the Indian space agency will now be able to produce fast its new rocket Small Satellite Launch Vehicle (SSLV).
- Apart from SSLV, an increase is also expected in the production of Polar Satellite Launch Vehicle (PSLV).
- ISRO has developed technologies, materials, chemicals, and others that can be transferred.
- The Indian space agency can also manufacture satellites for interested parties.
- ISRO has decided to transfer its lithium-ion cell technology to Indian private companies.
- New Space India Limited Incorporated (NSIL) will obtain the license from the Department of Space/ISRO and sub-license to industries for the manufacturing of small rockets.
Source: PIB
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