Prime Minister Narendra Modi’s policy drive aims to open up the space sector for investment, and the privatisation of the SSLV is the first step in this direction. The government hopes to increase its share of the global satellite launch market by fivefold within the next decade.

Hindustan Aeronautics and Larsen & Toubro already have a contract with ISRO to manufacture and deliver rockets. They will be producing and delivering five Polar Satellite Launch Vehicles (PSLV), which is ISRO’s main rocket. This contract is separate from the privatisation effort.

The next phase will involve opening the bidding process to interested companies. India’s newly established space regulatory body, the Indian National Space Promotion and Authorisation Centre (IN-SPACe), initiated the process in July by allowing qualified companies to register their interest. The winning bidder or consortium will take over the entire SSLV program.

This privatization initiative follows the recent success of ISRO’s Chandrayaan-3 mission, which landed a spacecraft on the moon’s south pole. The triumph has helped boost India’s efforts to attract private investment in the space sector.

Sources:
– Reuters

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