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Mahesh

09/06/22 08:32 AM IST

New Space India Ltd.(NSIL)

In News 
  • The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the transfer of 10 in-orbit communication satellites from Government of India (Gol) to M/s.NewSpace India Ltd. (NSIL), a wholly owned Public Sector Enterprise of GOI under the administrative control of the Department of Space.
NSIL 
  • The Space Sector reforms mandated NSIL to undertake end-to-end commercial space activities and function as a full-fledged satellite operator.
  • NSIL functioning as a single-window operator will also facilitate the ease of doing business in space sector.
  • NSIL Board will now be empowered to price the transponders as per the market dynamics and global trends in the Satellite Communication sector.
  • NSIL is also authorized to offer and allocate capacity as per its internal policies and guidelines.
  • The Union Cabinet has also approved increasing the authorized share capital of NSIL from Rs.1000 crore to Rs.7500 crore.
Significance 
  • Transfer of these assets to NSIL will further provide the desired financial autonomy to the company to realize capital intensive programmes/ projects and thereby offering huge employment potential and technology spin-off to other sectors of the economy.
  • This approval is expected to trigger domestic economic activity in space sector and increase India's share in the global space market.
Source- PIB 

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