Cabinet approves transfer of 10 In-orbit Communication Satellites

The Union Cabinet on Wednesday approved transfer of 10 In-orbit communication satellites from Government of India to New Space India Ltd. (NSIL) — a wholly owned public sector enterprise under the administrative control of the Department of Space.

The Union Cabinet chaired by Prime Minister Narendra Modi has approved the transfer.

The Union Cabinet has also approved increasing the authorised share capital of the NSIL from Rs 1,000 crore to Rs 7,500 crore.

Transfer of these assets to the NSIL will further provide the desired financial autonomy to the company to realise capital intensive programmes/ projects and thereby offering huge employment potential and technology spin-off to other sectors of the economy.

This approval is expected to trigger domestic economic activity in the space sector and increase India’s share in the global space market.

The Space Sector reforms mandated NSIL to undertake end-to-end commercial space activities and function as a full-fledged satellite operator. The NSIL functioning as a single-window operator will also facilitate the ease of doing business in the space sector.

The NSIL Board will now be empowered to price the transponders as per the market dynamics and global trends in the Satellite Communication sector.

The NSIL is also authorised to offer and allocate capacity as per its internal policies and guidelines.

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Arushi Sana is the Co Founder of NYK Daily. She was a Forensic Data Analyst previously employed with EY (Ernst & Young). She aims to develop a global community of knowledge and journalism par excellence through this News Platform. Arushi holds a degree in Computer Science Engineering. She is also a Mentor for women suffering from Mental Health, and helps them in becoming published authors. Helping and educating people always came naturally to Arushi. She is a writer, political researcher, a social worker and a singer with a flair for languages. Travel and nature are the biggest spiritual getaways for her. She believes Yoga and communication can make the world a better place, and is optimistic of a bright yet mysterious future!

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