The Union Cabinet, chaired by Prime Minister Narendra Modi, on Tuesday gave its approval for setting up a new company under the Department of Space, to commercially exploit the research and development work carried out by Indian Space Research Organization (ISRO).
The initiative would provide various avenues for commercial exploitation of ISRO programmes, including 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 vehicles in collaboration with the private sector; transfer of technology developed by ISRO centres and marketing of some spin-off technologies and products, both in India and abroad, among others, an official release said.
--IANS
mak/vd
Disclaimer: No Business Standard Journalist was involved in creation of this content
