Budget 2019: ISRO open for business, new commercial arm to harness economic benefits of ISRO

India took a step into space business with National Space India Limited, which will be the new commercial arm of the department of space. The NSIL, the FM said, will help boost commercialization of India's space research.

Indian Space Research Organisation (ISRO)’s annual budget has crossed Rs 10,000 crore ($1.45 billion), growing steadily from Rs 6,000 crore five years ago.

The new arm will put India among major players in the space business. There is growing realisation that national legislation is needed to ensure overall growth of the space sector.