logo
Fighter jet maker Hindustan Aeronautics Limited bags transfer of technology of SSLV from ISRO for  ₹511 crore

Fighter jet maker Hindustan Aeronautics Limited bags transfer of technology of SSLV from ISRO for ₹511 crore

Mint4 hours ago

In a significant milestone, Hindustan Aeronautics Limited (HAL) was on Friday declared the winner of the bid for the transfer of technology of the Small Satellite Launch Vehicle (SSLV), the Indian Space Research Organisation's (ISRO) rocket to place satellites up to 500 kg in low-earth orbit, edging out two consortia.
According to a PTI report, fighter jet manufacturer HAL was the standalone bidder for the coveted contract to build the ISRO-designed rocket and was pitted against the two consortia – one led by Alpha Design Technologies, backed by the Adani Group, and the other led by Hyderabad-based Bharat Dynamics Limited.
In a message on X, HAL said that it will be responsible for absorbing, manufacturing and commercialising SSLV technology. 'HAL's selection for the SSLV ToT will enable indigenous production and further development of small satellite launch capabilities, opening up new partnerships with domestic and international satellite operators,' Dr DK Sunil, Chairman and Managing Director of HAL, said.
HAL presented the winning bid of ₹ 511 crore to emerge as the sole manufacturer of the SSLV after the completion of the process of transfer of technology that is expected to take place over the next two years, the PTI report said.
"Under this technology-transfer agreement, HAL will have the capability to independently build, own and commercialise SSLV launches," Pawan Kumar Goenka, chairman, Indian National Space Promotion and Authorisation Centre (INSPACe), told a press conference in New Delhi.
HAL will be the third company to build rockets after space sector start-ups Skyroot Aerospace and Agnikul Cosmos, the report added.
Goenka said nine companies had evinced interest in the transfer of technology of the SSLV, of which three were rejected. Of the remaining six, three chose not to apply.
"The SSLV technology transfer marks a pivotal moment in India's transformative commercial space segment, as this is one of the first instances of a space agency transferring complete launch vehicle technology to a company," he said.
Goenka said that ISRO will handhold HAL and assist it in building two prototype rockets over the next two years. After that, the state-owned company is expected to independently produce six to 10 SSLVs every year, depending on the demand.
"HAL will be free to improve on the design and select its own vendors from the third rocket after the two-year period," Goenka said.
According to HAL, SSLV is a compact, cost-effective, and highly flexible launch vehicle developed by ISRO to address the rapidly growing demand for launching small satellites into Low Earth Orbit.
The SSLV was developed by the ISRO to launch small satellites into low-earth orbit at a shorter notice, a capability required by the defence forces in times of emergencies.
"This collaboration marks a significant step towards strengthening India's commercial satellite-launch capabilities and more specifically, in enabling Indian industry in realising this SSLV," Radhakrishnan Durairaj, Chairman and Managing Director of New Space India Limited (NSIL), said.
According to the PTI report, the move is part of efforts to allow the ISRO to focus more on research and hive off the routine activities of launching satellites, using proven launch vehicles to the industry.
"We are looking forward to working closely under the ISRO and IN-SPACe's guidance to progress in phases and realise the end objectives. We are confident of steering a cohesive ecosystem that enables more small satellite launches from India's ports," DK Sunil, CMD, HAL, said.
The technology-transfer agreement will be signed among HAL, NSIL, ISRO and IN-SPACe.
The agreement encompasses extensive training and handholding of HAL personnel by ISRO teams, both at ISRO and HAL facilities, for the realisation and launch of two SSLVs in the next two years, the report said.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Fighter jet maker Hindustan Aeronautics Limited bags transfer of technology of SSLV from ISRO for ₹511 crore
Fighter jet maker Hindustan Aeronautics Limited bags transfer of technology of SSLV from ISRO for ₹511 crore

Mint

timean hour ago

  • Mint

Fighter jet maker Hindustan Aeronautics Limited bags transfer of technology of SSLV from ISRO for ₹511 crore

In a significant milestone, Hindustan Aeronautics Limited (HAL) was on Friday declared the winner of the bid for the transfer of technology of the Small Satellite Launch Vehicle (SSLV), the Indian Space Research Organisation's (ISRO) rocket to place satellites up to 500 kg in low-earth orbit, edging out two consortia. According to a PTI report, fighter jet manufacturer HAL was the standalone bidder for the coveted contract to build the ISRO-designed rocket and was pitted against the two consortia – one led by Alpha Design Technologies, backed by the Adani Group, and the other led by Hyderabad-based Bharat Dynamics Limited. In a message on X, HAL said that it will be responsible for absorbing, manufacturing and commercialising SSLV technology. 'HAL's selection for the SSLV ToT will enable indigenous production and further development of small satellite launch capabilities, opening up new partnerships with domestic and international satellite operators,' Dr DK Sunil, Chairman and Managing Director of HAL, said. HAL presented the winning bid of ₹ 511 crore to emerge as the sole manufacturer of the SSLV after the completion of the process of transfer of technology that is expected to take place over the next two years, the PTI report said. "Under this technology-transfer agreement, HAL will have the capability to independently build, own and commercialise SSLV launches," Pawan Kumar Goenka, chairman, Indian National Space Promotion and Authorisation Centre (INSPACe), told a press conference in New Delhi. HAL will be the third company to build rockets after space sector start-ups Skyroot Aerospace and Agnikul Cosmos, the report added. Goenka said nine companies had evinced interest in the transfer of technology of the SSLV, of which three were rejected. Of the remaining six, three chose not to apply. "The SSLV technology transfer marks a pivotal moment in India's transformative commercial space segment, as this is one of the first instances of a space agency transferring complete launch vehicle technology to a company," he said. Goenka said that ISRO will handhold HAL and assist it in building two prototype rockets over the next two years. After that, the state-owned company is expected to independently produce six to 10 SSLVs every year, depending on the demand. "HAL will be free to improve on the design and select its own vendors from the third rocket after the two-year period," Goenka said. According to HAL, SSLV is a compact, cost-effective, and highly flexible launch vehicle developed by ISRO to address the rapidly growing demand for launching small satellites into Low Earth Orbit. The SSLV was developed by the ISRO to launch small satellites into low-earth orbit at a shorter notice, a capability required by the defence forces in times of emergencies. "This collaboration marks a significant step towards strengthening India's commercial satellite-launch capabilities and more specifically, in enabling Indian industry in realising this SSLV," Radhakrishnan Durairaj, Chairman and Managing Director of New Space India Limited (NSIL), said. According to the PTI report, the move is part of efforts to allow the ISRO to focus more on research and hive off the routine activities of launching satellites, using proven launch vehicles to the industry. "We are looking forward to working closely under the ISRO and IN-SPACe's guidance to progress in phases and realise the end objectives. We are confident of steering a cohesive ecosystem that enables more small satellite launches from India's ports," DK Sunil, CMD, HAL, said. The technology-transfer agreement will be signed among HAL, NSIL, ISRO and IN-SPACe.

Investors want to buy multiple financial products under a single umbrella, says Shriram Wealth's Vikas Satija
Investors want to buy multiple financial products under a single umbrella, says Shriram Wealth's Vikas Satija

The Hindu

time2 hours ago

  • The Hindu

Investors want to buy multiple financial products under a single umbrella, says Shriram Wealth's Vikas Satija

Chennai-based Shriram Group, which recently announced its foray into the wealth management business in partnership with South African financial services player Sanlam Group that globally manages assets worth over $80 billion, said it would serve India's growing base of affluent and high-networth investors with personalised solutions designed with the help of artificial intelligence. Shriram Wealth, the wealth management arm of the group, said it would offer a range of services including wealth management, lending solutions, protection solutions, global investment opportunities, inheritance and legacy planning. On market potential, Vikas Satija, Chief Executive Officer and Managing Director, Shriram Wealth told The Hindu that: 'India has 30 lakh households with each home having investable financial assets in excess of ₹2 crore. This opens up a huge market opportunity for wealth- management business.' Although new investor behaviours have been constantly evolving, the traditional Systematic Investment Plan (SIP) alone attracted ₹26,000 crore a month, which amounts to savings of ₹2,64,000 crore a year. 'This gives lot of depth to the capital market today and SIPs can even help absorb some of the pressure from Foreign Institutional Investor exits and overall, manage the pressure on the markets,'' Mr. Satija said. On emerging investor trends, Mr. Satija, said clients were increasingly looking forward to buying multiple products from a single company, unlike the conventional way of going to banks/NBFCs for deposits, insurance firms for various insurances, someone else for mutual funds etc. 'The emerging trend is, customers now prefer to buy all what they want, in terms of alternate investments, under a single umbrella. They want a Swiggy or Zomato for financial services,'' he observed. Paul Hanratty, CEO, Sanlam Group said, 'We see wealth management as a natural evolution as India's economy grows, and people become wealthier. Our aim is not just to manage money, but to create meaningful solutions. This isn't a short-term play; we're here to build a trusted, customer-first wealth business in India for the next 100 years.'' Shriram Wealth said primary target audience would be typically individuals in the 45 years plus, as generally wealth resided in that age group while additional thrust would be on customer relationship over number of transactions. The company would also be deploying artificial intelligence to enable personalised advisory, to make risk profiling sharper to ensure real-time portfolio recommendations. A digital mindset would make Shriram Wealth a provider that is anticipating investor needs rather than just responding. Subhasri Sriram, MD & CEO, Shriram Capital said, the new business, wealth management, was a mission of the company to unlock financial prosperity for millions of Indians.

Axiom launch: Shubhanshu Shukla to take part in these 7 experiments in space
Axiom launch: Shubhanshu Shukla to take part in these 7 experiments in space

Hindustan Times

time2 hours ago

  • Hindustan Times

Axiom launch: Shubhanshu Shukla to take part in these 7 experiments in space

Axiom Mission 4 (Ax‑4) is all geared up to take off to its destination, International Space Station (ISS), from NASA's Kennedy Space Centre in Florida. Indian astronaut Shubhanshu Shukla will be part of the crew. He and other team members will conduct several experiments in space. The experiments that are to be conducted by Shukla, are developed by the Indian Space Research Organisation (ISRO) and other Indian institutions.(AFP) The launch, which was scheduled on Sunday, June 22, has been delayed. While the launch shas been postponed until further notice, Shukla and Axiom Mission will be reportedly conducting these 7 experiments in space. The experiments are developed by the Indian Space Research Organisation (ISRO) and other Indian institutions. 1. Myogenesis Co-ordinated by the Institute of Stem Cell Science and Regenerative Medicine (InStem), India, one of India's research missions as part of Axiom includes looking for the causes of muscle atrophy. Since astronauts suffer from muscle loss in space, Shukla will be looking into its causes in microgravity and identifying therapy-based strategies to deal with it. 2. Food crop seeds in microgravity Co-ordinated by Indian Institute of Space Science and Technology and Kerala Agricultural University, seeds of six varieties of crops will be taken to space to test their growth and development. Kerala Agricultural University expects to look for genetic properties that can be used for crop cultivation in space. 3. Sprouting salad seeds in the International Space Station (ISS) Co-ordinated by the University of Agricultural Sciences, Dharwad and Indian Institute of Technology, Dharwad, this experiment aims to look for the effect of space on the process of germination and thriving of seeds. The seeds will be cultivated across generations to observe genetic and nutritional changes after the mission. 4. Voyager tardigrade Co-ordinated by Indian Institute of Science, this experiment aims towards finding the underlying reason behind how the almost indestructible micro-animals cope under extreme stress. The process involves rehydrating the organisms and studying their existence and healing procedures in space. 5. Voyager displays Also coordinated by Indian Institute of Science, this experiment will dive deep into researching the physical and cognitive consequences of computer screen usage in space by observing actions like pointing at the screen, and eyeball movements. It will also shed light on its effects on the astronaut's stress levels. 6. Cyanobacteria in microgravity Co-ordinated by the International Centre for Genetic Engineering and Biotechnology (ICGEB) with the European Space Agency (ESA), this experiment aims at examining cyanobacteria or water bacteria's photosynthesis abilities. Two strains of this bacterium will be experimented with to find out about their growth rates and biochemical activities in space. 7. Space microalgae Co-ordinated by the International Centre for Genetic Engineering and Biotechnology (ICGEB) & National Institute of Plant Genome Research (NIPGR), India, this experiment will research into the metabolism, growth and genetic activities of microalgae without gravity, in space. Three strains of microalgae will undergo this experiment. With inputs from PTI

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store