The NewSpace India Limited, a subsidiary company under the Department of Space will own and operate capital intensive space assets of ISRO as part of the space reforms process initiated in June last year.
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During a media conference in Bengaluru, the Chairman and Managing Director of NewSpace India Limited Mr.G Narayanan informed that they are in advance stage of discussion with the Department of Space to take ownership of two new communication satellites for commercial purpose.
The transponders on these satellites will be leased to the private companies with DTH and Broadband services.
The company he added is in talks with five private Industries to manufacture under license five Polar Satellite Launch Vehicles.
The Executive Director of NewSpace India Limited Mr.D Radhakrishnan informed that they have received orders for four launches of private satellites.
NewSpace India Limited (NSIL) is a Public Sector Enterprise (PSE) of Government of India and commercial arm of Indian Space Research Organisation (ISRO).
It was established in 2019 under the administrative control of Department of Space (DoS) and the Company Act 2013. The main objective of NSIL is to scale up industry participation in Indian space programmes.
