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- The Central had set up New Space India Limited (NSIL) in March 2019. It is a Central Public Sector Enterprise (CPSE), under the administrative control of Department of Space (DOS).
- The NSIL has been set up to meet the increasing demands of Indian space programmes and to commercially exploit the emerging global space market.
- The main functions of NSIL are: a) Manufacture of Small Satellite Launch Vehicle (SSLV) in collaboration with Private Sector, b) production of Polar Satellite Launch Vehicle (PSLV) through Indian Industry, c) production and marketing of Space based products and services, including launch and application, d) Transfer of technology developed by ISRO Centres and constituent units of DOS and e) Marketing spin-off technologies and products/services, both in India and abroad.
- NSIL is the second commercial entity of the Department of Space (DoS) after Antrix Corporation Limited which was set up in 1992 to market the products and services of the Indian Space Research Organisation (ISRO).
