PIB News Update: 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 has informed that A new company by name, “NewSpace India Limited (NSIL)”, has been incorporated on 06th March 2019, as a wholly owned Government of India Undertaking / Central Public Sector Enterprise (CPSE), under the administrative control of 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 programme.
NSIL has commenced its commercial business operations since its incorporation.