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

 

You can follow us on LinkedIn and on Instagram (Diligent IAS) for more updates related to IAS Preparation/ Study Material, Subscribe to our Facebook Page and Youtube Channel- Diligent IAS 

Also, read more PIB Updates