Indian Space Research Organisation (ISRO) has inaugurated its new commercial arm 'NewSpace India Limited' (NSIL) at __________.

Indian Space Research Organisation (ISRO) has inaugurated its new commercial arm 'NewSpace India Limited' (NSIL) in Bengaluru, Karnataka. The objective of new commercial arm is to scale up industry participation in Indian space programmes. NSIL was inaugurated by Dr. K Kasturirangan, ISRO's advisor, in the presence of ISRO's chairman Dr. K Sivan.On March 6, 2019 NSIL was incorporated for the purpose of utilising research and development activities carried out by ISRO in the area of space with an authorised share capital of Rs 100 crore and initial paid up capital of Rs 10 crore.NSIL will be responsible for manufacturing and production of Small Satellite Launch Vehicle (SSLV) and Polar Satellite Launch Vehicle (PSLV) through technology transfer mechanisms.