20-Jul-2022: Union Minister Dr Jitendra Singh says, 10 (Ten) in-orbit operational communication satellites have been transferred from Government of India to M/s. New Space India Ltd (NSIL), a CPSE under Department of Space

Union Minister of State (Independent Charge) Science & Technology; Minister of State (Independent Charge) Earth Sciences; MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space, Dr Jitendra Singh said, 10 (Ten) in-orbit operational communication satellites have been transferred from Government of India to M/s. New Space India Ltd (NSIL), a CPSE under Department of Space.

In a written reply to a question in the Lok Sabha today, Dr Jitendra Singh said, communication satellites viz. GSAT-8, GSAT-10, GSAT-12R (CMS-01), GSAT-14, GSAT-15, GSAT-16, GSAT-17, GSAT-18, GSAT-30 and GSAT-31 have been transferred at a written down value of Rs 4697.60 crores against issue of equity to Government of India, with 01.04.2021 as the effective date of transfer.

The Board of NSIL is authorized to price the transponder capacity as per the global trends. NSIL shall carry out the activities related to offering and allocation of capacity, as per the guidelines to be adopted by its Board. The transfer of operational satellites is part of the Space Sector reforms, aimed at strengthening the role of NSIL in order to enhance the nation’s share in global space economy.

The Minister also informed that the Government has taken several steps to increase India’s share in global space market, through the reforms undertaken in 2020, which seek to augment the space sector in the country with greater participation of Non-Governmental Entities (NGEs).

The Indian National Space Promotion & Authorization Centre [IN-SPACe] has been created as a single window agency to promote, handhold and authorize the activities of NGEs in the sector, thus providing them with a level playing field.

As a part of these reforms, NSIL has been mandated to task the building of launch vehicle through Indian Industry and launch as per satellite customer requirements. With the operationalization of IN-SPACe, the progressively evolving regulatory environment, a greater private sector participation in end-to-end space activities is expected, which may result in increased share of India in the global space economy.

5-Jul-2019: New Space India Ltd. incorporated as a new commercial arm of D/o Space

Presenting the General Budget 2019-20 in the Parliament today, Union Minister of Finance and Corporate Affairs Smt. Nirmala Sitharaman said that a Public Sector Enterprise viz. New Space India Limited (NSIL) has been incorporated as a new commercial arm of Department of Space to tap the benefits of the Research & Development carried out by ISRO.

The Company will spearhead commercialization of various space products including production of launch vehicles, transfer to technologies and marketing of space products. The Minister said that, “India has emerged as a major space power with the technology and ability to launch satellites and other space products at globally low cost. Time has come to harness this ability commercially”.

The Budget Estimates for Department of Space for FY 2019-20 is Rs 12,473.26 crore as compared to the RE of Rs 11,200 crore in FY 2018-19.