Cabinet approves setting up a new company under Department of Space

Cabinet approves setting up a new company under Department of Space

The Union Cabinet chaired by Prime Minister Narendra Modi has given its approval to the Setting up of a new company under Department of Space (DoS), to commercially exploit the research and development work carried out by Indian Space Research Organization (ISRO) Centers and constituent units of DOS.

Salient features:

The following areas/avenues provide opportunities for commercial exploitation of ISRO programmes:

Small satellite technology transfer to industry, wherein the new company shall take license from DoS/ISRO and sub-license to industries;

Manufacture of small satellite launch vehicle (SLV) in collaboration with the Private Sector;

Productionisation of Polar SLV through industry;

Productionisation and marketing of Space-based products and services, including launch and applications;

Transfer of Technology developed by ISRO Centers and constituent units of DoS;

Marketing of some spin-off technologies and products, both in India and abroad; and

Any other subject which Government of India deems fit.

Source : PMINDIA