Government approves transfer of 10 in-orbit communication satellites to NSIL

The cabinet has approved the transfer of 10 in-orbit communication satellites to NewSpace India Limited (NSIL). It has approved increasing the authorised share capital of NSIL from Rs 10 billion to Rs 75 billion. Meanwhile, the transfer of assets to NSIL will further provide the desired financial autonomy to the company to realise capital-intensive program­mes/projects, thereby offering huge employment potential and technology spin-off to other sectors.