Significance of Transfer Of IN- Orbit Communication

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GS-III
S&T
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S&T

Significance of Transfer Of IN- Orbit Communication Satellite

Recently the union cabinet approved the transfer of 10 in-orbit communication satellites from the government of India to NewSpace India limited. NSIL is a public sector enterprise under the administrative control of the Department of Space. The Indian government has also approved increasing the share capital of NSIL from Rs1000 crore to Rs 7500 crore.

SIGNIFICANCE

It will provide the desired financial autonomy to the company due to the transfer of this asset to realize capital-intensive programs and offer huge employment potential and creation of technology to the other sector of the economy.
It will trigger domestic economic activity in the space sector and increase India's share in the global space market.
It will increase the ease of doing business in the space sector as NSIL is functioning as a single window operator.
NSIL is now also authorized to offer and allocate capacity as per its policies and guideline
Now NSIL Board is empowered to price the transponder as per the market dynamics and global trends in the satellite

NSIL: Central public sector enterprise established in the year 2019 under the administrative control of the Department of Space with the responsibility of enabling Indian industries to take up high technology space-related activities. Its headquarter is in Bengaluru. It co-produces Polar Satellite Launch Vehicles (PSLV) and launches satellites through Small Satellite Launch Vehicles (SSLV).

Source: The Hindu

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