New Delhi: The Union Minister of State (MoS) for Space, Jitendra Singh, stated in Parliament this week that a new company by the name ‘NewSpace India Limited (NSIL)’ has been incorporated on 6 March 2019 as a wholly owned Government of India Undertaking/Central Public Sector Enterprise (CPSE), under the administrative control of the Department of Space (DoS) to commercially exploit the research and development work of Indian Space Research Organisation (ISRO) Centres and constituent units of DoS.
The business activities of NSIL are mainly driven towards enabling Indian industries to productionise space systems through technology transfer mechanisms and to exploit the commercial opportunities emanating from the Indian space program.
NSIL has commenced its commercial business operations since its incorporation.
This information was provided by the Union Minister of State (Independent Charge) Development of North-Eastern Region (DoNER), MoS PMO, Personnel, Public Grievances & Pensions, Atomic Energy and Space, Dr Jitendra Singh in written reply to a question in Lok Sabha on 11 December.
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