Explanation:

Recently, the Union Cabinet has approved creation of Indian National Space Promotion and Authorization Centre (IN-SPACe). It will provide a level playing field for private companies to use Indian space infrastructure. It will also hand-hold, promote and guide the private industries in space activities through encouraging policies and a friendly regulatory environment.
NewSpace India Limited (NSIL) is a wholly owned Government of India company, a commercial arm of Indian Space Research Organisation (ISRO) with the primary responsibility of enabling Indian industries to take up high technology space related activities and is also responsible for promotion and commercial exploitation of the products and services emanating from the Indian space programme. Hence both statements are correct.