HAL Secures Landmark SSLV Deal with ISRO

Hindustan Aeronautics Limited (HAL) achieved a major breakthrough by winning the bid for the transfer of technology for the Small Satellite Launch Vehicle (SSLV) from the Indian Space Research Organisation (ISRO). HAL's victory comes after beating two competing consortia, one of which was supported by the Adani Group.

The successful Rs 511 crore bid puts HAL in the unique position of becoming the sole commercial manufacturer of the SSLV. The agreement with ISRO provides HAL with the independence to build and commercialize the rocket after a two-year transitional period where ISRO will aid in technology handover and prototype development.

The move signifies a pivotal shift in India's space landscape, empowering Indian industry in satellite launches while allowing ISRO to concentrate on advanced research. The arrangement emphasizes collaborative efforts to enhance India's global standing in the competitive space sector.

(With inputs from agencies.)