The Indian Space Research Organisation’s (ISRO) commercial arm NewSpace India Limited (NSIL) has announced its plans of investing approximately Rs 100 billion over the next five years to scale up operations. Further, the company has stated that it has a manpower requirement of around 300 people who would help it in the expansion plans.

NSIL, incorporated as a wholly government-owned central public sector enterprise (CPSE) with a paid-up capital of Rs 100 million on March 6, 2019, would raise Rs 20 billion a year through a mix of equity and debt.

The company, under the Department of Space (Dos) had launched its first dedicated commercial mission orbiting Brazilian satellite Amazonia-1 from ISRO’s Sriharikota spaceport on February 28, 2021. Further, NSIL currently has four more dedicated launch service contracts, which will be executed in the coming two-three years.