The Government informed the lok sabha on Wednesday it transferred 10 in- orbit operational communication satellite to space PSU New Space India LTD (NSIL) to push reforms.
The NSIL board has the authority to set the transponder capacity pricing based on current market conditions. The NSIL must follow regulations when performing capacity offering and allocation tasks. The transfer of operational satellites is a component of changes to the space industry designed to boost the NSIL’s function and increase the country’s participation in the global space economy.
The minister added that the changes implemented in 2020, which aim to expand the space sector in the nation and promote the engagement of non-governmental organisations, have been adopted in order to raise India’s role in the global space market.
In a written reply to a question in the Lok Sabha, space minister Jitendra Singh said communication satellites – Gsat – 8, Gsat 10, Gsat 12R (CMR- 01), Gsat- 14, Gsat-15, Gsat- 16, Gsat – 17, Gsat- 18, Gsat- 30, and Gsat- 31 – have been transferred at a written down value of Rs 4, 697.6 crore against issue of equity to the government with April 1, 2021 effective date to transfer
