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).

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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.

First Published:Feb 20, 2019 5:40 AM IST