ISRO announces its second commercial branch - NewSpace India Limited

Recently, New Space India Limited-NSIL has been officially inaugurated in Bangalore. New Space India Limited is a commercial branch of the Indian Space Research Organization (ISRO).

For commercial use of research and development activities carried out by ISRO in the space sector, New Space India Limited was included on March 6, 2019 with authorized share capital of Rs 100 crore (paid-up capital of Rs 10 crore).

This is the second commercial arm of ISRO after 'Antrix Corporation'. Antrix Corporation was established primarily in 1992 for facilitating commercial launch of ISRO's foreign satellites.

The purpose of NSIL is to increase the participation of the industry in Indian space programs. NSIL will bring all the activities related to space together and develop private entrepreneurship in the related technologies.

Production and production of Small Satellite Launch Vehicle and Polar Satellite Launch Vehicle through Technology Transfer Mechanism. It will also meet the demand of emerging global commercial SSLV market, including providing satellite creation and satellite-based services.