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 Indian Space Research Organisation ( ISRO) — New Space India Limited (NSIL).
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.
India wants to set up its own space station to carry out experiments in microgravity
Chandrayaan 2 will give India bragging rights even if it doesn’t find water
ISRO, NASA just spotted a black hole spinning so fast that it could be making space itself rotate
- After Bihar, now BJP promises free Corona vaccine in MP
- Sanofi, GSK to support COVAX with 200mn doses of Covid-19 vaccine
- Union Minister Smriti Irani tests positive for COVID-19
- Samsung overtakes Xiaomi to retake the smartphone crown in India
- Axis Bank is back in the black as fee collections ramp up and ₹10,000 crore in fund raising cushions the balance sheet