India forms a new space company to sell ISRO’s space technology products
New Space India Limited(NSIL) will be the Indian Space Research Organisation’s (ISRO) new commercial arm.
- During the
Union Budget 2019, India’s finance minister — Nirmala Sitharaman — announced that NSIL will aid ISRO to commercialise its space products like launch vehicles and the transfer of technology.
- The country is already processing its ‘Space Activities Bill’ to align its liability in outer space with international standards.
The Indian government has been pushing to become a space power with testing its anti-satellite weapon, planning a manned mission — Ganganyaan — and launching its second mission to moon, Chandrayaan 2, next month.
Nirmala Sitharam, India’s new finance minister, during the Union Budget 2019 just announced a new commercial arm of the
She said that “the time has come” for India to harness its space technology commercially. While NSIL will be a public sector enterprise, it will aid ISRO to tackle the benefits of its research and development.
Sitharam specified that NSIL will spearhead commercialisation of various space products, including production of launch vehicles, transfer of technology and marketing of space products.
India is currently processing its ‘ Space Activities Bill’ as well to align its liability in outer space with international standards. This means that in case any Indian space objects cause damage to another, natural or man-made, object in space, India will have a financial plan in place.
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