As part of the presentation of the Union Budget 2019, Finance Minister Nirmala Sitharaman says the time has come to harness India's ability to commercially launch satellites.
She highlighted the creation of a new public sector enterprise named NewSpace India Limited (NSIL), which was incorporated as the new commercial arm of the Department of Space in order to tap the research and development carried out by ISRO. "The company will spearhead commercialisation of various space products including the production of launch vehicles, Transfer-of-Technology (ToT), and marketing of space products."
This month, ISRO is expected to test its Small Satellite Launch Vehicle (SSLV), which will be a key platform for its commercial satellite-launching services. In addition, NSIL is to facilitate private sector production of the Polar Satellite Launch Vehicle (PSLV).
NSIL will be in addition to ISRO's other commerical enterprise, Antrix Ltd.
Story will be updated.
