ISRO has handed over the technology for the Small Satellite Launch Vehicle (SSLV) to the defense giant (HAL) in an agreement worth Rs. 511 crore.

The Indian government has revealed the transfer of Small Satellite Launch Vehicle (SSLV) technology from the Indian Space Research Organisation (ISRO) to Hindustan Aeronautics Ltd (HAL) for Rs. 511 crore (US$ 59.70 million) as part of a competitive bidding process. This represents the first occasion where a complete launch vehicle technology has been transferred by ISRO to a private company, allowing HAL to construct, possess, and commercialize SSLV launches independently. HAL was chosen as the winning bidder among three consortia following an extensive technical assessment and will receive training and assistance from ISRO under the Technology Transfer Agreement, which also involves NewSpace India Ltd (NSIL) and the Indian National Space Promotion and Authorization Centre (IN-SPACe). The SSLV, engineered to deploy satellites weighing up to 500 kg into Low-Earth orbit (LEO), is crucial to India's goals of securing a considerable portion of the anticipated Rs. 3,81,172 crore (US$ 44 billion) space economy by 2033. HAL, in collaboration with firms like Agnikul Cosmos and Skyroot Aerospace, is anticipated to support the goal of one rocket launch every two weeks in the years ahead. This initiative is likely to substantially bolster India's commercial satellite launch capabilities and enhance the model of public-private partnerships within the space sector. The development also highlights the government's aspiration to make access to space technology more inclusive and emphasizes India's increasing significance in the global small satellite launch market.