The Union Cabinet has approved the transfer of 10 in-orbit communication satellites from Government of India (Gol) to NewSpace India Ltd. (NSIL).
- The Union Cabinet has also approved increasing the authorized share capital of NSIL from Rs.1000 crore to Rs.7500 crore.
- The Space Sector reforms mandated NSIL to undertake end-to-end commercial space activities and function as a full-fledged satellite operator.
- NSIL functioning as a single-window operator will also facilitate the ease of doing business in space sector.
- NSIL Board will now be empowered to price the transponders as per the market dynamics and global trends in the Satellite Communication sector.
- NSIL is also authorized to offer and allocate capacity as per its internal policies and guidelines.
About New Space India Limited (NSIL)
- The Union Government has set up New Space India Limited (NSIL), a wholly owned Government of India undertaking/ Central Public Sector Enterprise (CPSE), under the administrative control of Department of Space (DOS) on 06th March 2019 to commercially exploit the research and development work of Indian Space Research Organisation (ISRO) Centres and constituent units of DOS.
NSIL has been incorporated to carry out the following roles and functions as part of its madate viz.
- (i) Small Satellite technology transfer to industry, wherein NSIL will obtain license from DOS/ISRO and sub-license it to Industries;
- (ii) Manufacture of Small Satellite Launch Vehicle (SSLV) in collaboration with Private Sector;
- (iii) Productionisation of Polar Satellite Launch Vehicle (PSLV) through Indian Industry;
- (iv) Productionisation and marketing of Space based products and services, including launch and application;
- (v) Transfer of technology developed by ISRO Centres and constituent units of DOS;
- (vi) Marketing spin-off technologies and products/services, both in India and abroad; and
- (vii) any other subject which Government of India deems fit.
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