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- Finance minister has said that New Space India Limited (NSIL) has been incorporated as a new commercial arm of the Department of Space.
- The Company will spearhead commercialization of various space products including production of launch vehicles, transfer of technologies and marketing of space products.
- The new company will be licensed by the DoS/Isro, which will in turn sub-license the technology and products to industries.The role of this new company will be different from Antrix,Isro’s commercial arm as the latter is only involved in commercial launches of foreign satellites.
