New Delhi, Jun 28: ISRO is leading in space prowess with innovation and hard work. Now, making this work more accessible and advanced, the ISRO has formed the NewSpace India Limited (NSIL), a public sector undertaking (PSU) that will commercially exploit the research and development work of the space agency, co-produce PSLV and launch satellites through SSLVs, the government said on Thursday.
This NSIL will functionary with the involvement of small satellite technology transfer to industry, manufacture of Small Satellite Launch Vehicle (SSLV) -- a product which is being developed by the ISRO -- in collaboration with the private sector and productionisation of Polar Satellite Launch Vehicle (PSLV) through Indian industry.
This information was given by Minister of State in the Prime Minister's Office Jitendra Singh in a written response to a question in the Rajya Sabha.
This new wing of ISRO will also work in the productionisation and marketing of space-based products and services, including launch and, application, developed by ISRO centers and the constituent units of the Department of Space and marketing spin-off technologies and products and services both in India and abroad.
Union Minister said, “Minister of State in the Prime Minister's Office Jitendra Singh shared this information in a written response to a question in the Rajya Sabha”.
Antrix Ltd is another PSU under the Department of Space that acts as a commercial arm of ISRO.