New Space India Limited (NSIL) is the commercial arm of Indian Space Research Organisation (ISRO), which was officially inaugurated in Bengaluru.
- NSIL was incorporated on March 6, 2019, for commercially utilising research and development activities carried out by ISRO in the area of space with an authorised share capital of Rs 100 crore and initially paid-up capital of Rs 10 crore.
- It is the second commercial arm of the ISRO after the Antrix Corporation, which was set up in 1992 primarily to facilitate ISRO’s commercial launch of foreign satellites.
- The objective of NSIL: is to enhance industry participation in Indian space programmes. NSIL will act as an aggregator for all space-related activities in industry and develop private entrepreneurship in space-related technologies.
Responsibility of NSIL: manufacturing and production of Small Satellite Launch Vehicle (SSLV) and Polar Satellite Launch Vehicle (PSLV) through technology transfer mechanisms.
- It will also cater to emerging global commercial SSLV market demand, providing satellite building and satellite-based services, including the supply of sub-systems for various domestic and international application needs and will enable space technology spin-offs through Indian industry interface.
- It will also be organising an interactive workshop with industry, wherein it would seek industry’s feedback as well as their expression of interest to take a newer and larger share of work with ISRO.