In news– The Union Cabinet has approved the transfer of 10 in-orbit communication satellites from Government of India (Gol) to ISRO’s commercial arm, NewSpace India Ltd. (NSIL) recently.
Key updates-
- The Union Cabinet has also approved increasing the authorized share capital of NSIL from Rs.1000 crore to Rs.7500 crore.
- NSIL functioning as a single-window operator will facilitate the ease of doing business in the 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 NSIL-
- It is a Public Sector Undertaking of Government of India and commercial arm of Indian Space Research Organisation (ISRO).
- It was established on 6 March 2019 under the administrative control of the Department of Space and the Company Act 2013.
- The main objective of NSIL is to scale up industry participation in Indian space programmes.
Objectives-
- Transfer of Small Satellite technology to industry: NSIL will obtain licenses from DoS/ISRO and sub-license the same to industry.
- Manufacture of Small Satellite Launch Vehicle (SSLV) in collaboration with the private sector.
- Production of Polar Satellite Launch Vehicle (PSLV) through Indian industry.
- Production and marketing of Space based products and services, including launch and application.
- Transfer of technology developed by ISRO Centres and constituent units of DoS.
- Marketing of spin-off technologies and products/services, both in India and abroad.
- Space based Services related to Earth Observation and Communication satellites on a commercial basis.
Source: PIB
