
HAL to manufacture, launch Isro-developed SSLV, technology trasfer to begin
In a landmark move for India's space sector, the Indian National Space Promotion and Authorisation Centre (IN-SPACe) has officially transferred the Indian Space Research Organisation's (Isro) Small Satellite Launch Vehicle (SSLV) technology to Hindustan Aeronautics Limited (HAL).This transfer empowers HAL to take charge of manufacturing, marketing, and launching the SSLV for commercial small satellite missions, marking a new era of private sector participation in India's space program.advertisementA contract will be signed between HAL, Isro, NSIL and In-Space to begin the transfer process.
The SSLV, developed by Isro, is designed to provide cost-effective, on-demand launches for satellites weighing up to 500 kg into low Earth orbit.Its flexibility and rapid turnaround make it ideal for the booming global market of small satellites, which are increasingly used for communications, earth observation, and research.The transfer of SSLV technology is seen as a strategic step to boost India's share in the global satellite launch market, which is projected to grow significantly in the coming years."Our vision is to drive the growth of the space sector through increased private participation. We're focusing on the small satellite launch market, with the SSLV now fully proven. Startups like Skyroot and Agnikul are gearing up for their first orbital launches, and within the next two years, we aim to establish a robust, battle-tested small satellite launch capability. To support this, we are developing a third launch pad, setting up a manufacturing unit in Tamil Nadu, and building the necessary infrastructure to make India a globally attractive destination for small satellite launches," IN-Space Chairman Pawan Goenka said. advertisementHe added that the goal is to achieve a launch every two weeks. "Market share will ultimately be determined by performance, competitiveness, rocket reliability, and cost-effectiveness of these three organisations," Goenka said.Under the agreement, HAL will not only manufacture the SSLV but also handle its commercial operations, including marketing and launch services for domestic and international clients.This is the first time India has fully privatised a launch vehicle program, going beyond manufacturing contracts to grant a private entity end-to-end responsibility for a national rocket.The move follows a rigorous selection process. The final competition was between Alpha Design, HAL and Bharat Dynamics. HAL won the contract with a bid amount of Rs 500 crore.Isro will provide HAL with the full design know-how and technical support during the initial phase.HAL is expected to build the first two SSLVs with Isro's assistance before independently manufacturing and launching subsequent rockets.The technology transfer includes not just hardware but also the operational expertise required to assemble, integrate, and launch the SSLV.This collaboration is expected to accelerate India's ambitions in the commercial space sector, enabling faster, more frequent launches and attracting global customers seeking reliable and affordable satellite deployment.The successful handover of SSLV technology to HAL is a testament to India's maturing space industry and the government's commitment to fostering innovation and private enterprise in space.Must Watch
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Economic Times
26 minutes ago
- Economic Times
At TCS AGM, AI-led disruption, automation, geopolitics in focus
The world is facing upheavals on multiple fronts—tariffs, wars, and disruption due to artificial intelligence (AI), said Keki Mistry, non-executive and independent director at Tata Consultancy Services (TCS), as he presided over the 30th Annual General Meeting (AGM) of the company. Tata Sons chairman N Chandrasekaran could not chair the meeting due to 'certain exigencies.' 'We are presently engulfed by uncertainty at multiple fronts. The global economic connections are being reconfigured on a daily basis from tariffs to supply chains, wars and conflicts across regions, to the disruption posed by artificial intelligence. The world faces upheaval at several levels,' said the veteran business executive and former CEO of HDFC. The board of directors recommended a final dividend of Rs 30 per share for the fourth quarter, which brings the total annual dividend for the year to Rs 126 per share. TCS' shareholder payout was Rs 45,588 crores with a payout ratio of 94%.Looking ahead, TCS plans to focus on four strategic pillars: establishing a large pool of AI agents working alongside the human workforce, delivering solutions to a human plus AI model, and investing in AI data centres as well as partnerships, Mistry pointed out that the geopolitical landscape has reshaped how global businesses operate—reimagining their systems, processes, and technologies. 'Among all the shifts, it is the potential of generative artificial intelligence that stands apart. Unlike previous technological revolutions, which arrived sequentially across the globe, GenAI is emerging everywhere simultaneously… GenAI is not just another tech cycle. It represents a generational shift.'


Hans India
32 minutes ago
- Hans India
Sundaram Finance expands Sundaram Wealth as a specialised service to serve High Net Worth and Affluent Clients
Sundaram Finance, one of India's most respected financial institutions with over seven decades of exemplary customer obsession, today announced the expansion of Sundaram Wealth as a dedicated wealth management offering. This strategic initiative positions the company to better serve the sophisticated financial needs of Ultra High Net Worth Individuals, High Net Worth Individuals (HNI) and affluent families across India. The expanded offering builds upon the company's existing franchise in wealth management and will provide comprehensive financial solutions including strategic financial planning, portfolio allocation and risk management through enhanced capabilities. Strategic focus on affluent market segments Sundaram Wealth will primarily target families and individuals who require sophisticated wealth management solutions beyond traditional investment products. Rooted in Sundaram Finance's enduring customer relationships with self-employed and entrepreneurs, this offering is designed to serve those who have created significant wealth, as well as those who are thoughtfully and steadily building toward it. "Our expansion of Sundaram Wealth represents the natural evolution of our client relationships and our commitment to providing comprehensive financial solutions," said Harsha Viji, Executive Vice Chairman of Sundaram Finance. "Over the decades, we have witnessed many clients progress significantly in their financial journey through disciplined investing and financial planning. This expansion allows us to serve our multigenerational relationships in addressing their increasingly complex wealth management needs with the same integrity and personalised service that has defined our customer centricity for over 70 years." Leveraging distribution excellence Sundaram Wealth will leverage and expand Sundaram Direct, the company's distribution business, which has been a cornerstone of Sundaram Finance's financial products & services offerings for over two decades. Sundaram Direct deals with both SF Group and third-party financial products and has built a wealth and investments portfolio exceeding Rs. 7,000 crore of assets under management. This established distribution infrastructure provides Sundaram Wealth with extensive product access and proven operational capabilities to deliver differentiated wealth management solutions. The wealth management expansion will tap into this distribution strength while simultaneously targeting new affluent clients across India's growing wealth segments. The growth strategy will include both organic growth through existing customer relationships and targeted acquisition of new HNI and affluent clients seeking comprehensive wealth management services. The company aspires to achieve an AUM of 20,000 – 25,000 crore in the next 4 – 5 years.


New Indian Express
36 minutes ago
- New Indian Express
HDB Financial sets Rs 700–740 price band for Rs 12,500-crore IPO
MUMBAI: HDB Financial Services, a retail-focused NBFC owned by HDFC Bank, has set a price band of Rs 700–740 for its Rs 12,500-crore IPO, marking a steep premium over face value but a sharp discount to grey market rates. At the upper end of the price band, the company will be valued at USD 7.5 billion, compared to the grey market valuation of USD 10.5 billion. The mega issue, the largest from the NBFC space, comprises a Rs 2,500 crore fresh issue of shares of Rs 10 face value and Rs 10,000 crore in offer-for-sale by parent HDFC Bank, which currently holds 94.3% of the company. The remaining 5.7% shares are held by the employees trust and employees through ESOPs, Chief Financial Officer Jaykumar Shah told TNIE at the press meet announcing the issue. Post-issue, HDFC Bank will continue to hold 75% of the equity. HDB Financial, founded in 2008, has been growing rapidly. In FY25, its loan book, 73% of which is secured, crossed the Rs 1-trillion mark, from which it earned a net income of Rs 2,180 crore, up 29% from the previous fiscal. However, asset quality remains a concern, with gross NPAs at 2.3% and net NPAs at 1% of assets. The IPO is also intended to comply with the RBI's October 2022 directive requiring large NBFCs to go public by September 2025. When asked about launching the IPO during a choppy market and at a discount to the grey market price, CEO Ramesh Ganesh said the valuation was arrived at after discussions with investors and bankers. 'We've been doing roadshows for quite some time now, meeting investors globally and locally. We believe the value is derived by talking to investors and bankers, and we worked with them to arrive at the value,' Ramesh said.