A public sector undertaking that will commercially exploit the research and development work of the space agency has been formed by the Indian Space Research Organisation (ISRO).
Referred to as the NewSpace India Limited (NSIL), the PSU will co-produce PSLV and launch satellites through SSLVs, the government said on Thursday.
The functions of NSIL will involve 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 production of Polar Satellite Launch Vehicle (PSLV) through Indian industry.
In addition, the new company will also look after the production and marketing of space-based products and services.
These servises include launch and application, developed by ISRO centres and the constituent units of the Department of Space and marketing spin-off technologies and products and services both in India and abroad.
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.
"NSIL would enable Indian Industries to scale up high-technology manufacturing and production base for meeting the growing needs of Indian space programme and would further spur the growth of Indian industries in the space sector," he said.
Antrix Ltd is another PSU under the Department of Space that acts as a commercial arm of the ISRO.
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