New Space India Ltd.

New Space India Ltd.

Part of: GS Prelims and GS-III- Economy

In News:

• It is the Department of Space’s second commercial arm (after Antrix) that was announced in Budget 2019.
• Its objective is to use research and development carried out by ISRO over the years for commercial purposes through Indian industry partners.

• One of the mandates of NSIL aims to mass-produce and manufacture the SSLV and the more powerful PSLV in partnership with the private sector in India through technology transfers.

• It differs from ISRO’s existing commercial arm Antrix Corporation:
  • Antrix will handle ISRO’s commercial deals for satellites and launch vehicles with foreign customers.
  • NSIL will deal with capacity building of local industry for space manufacturing.