- Deal Value: ₹511 crore (The payment is phased over the contract period).
- Launch Vehicle: Small Satellite Launch Vehicle (SSLV)—a three-stage, all-solid vehicle designed for quick turnaround and placing satellites up to $500\text{ kg}$ into Low Earth Orbit (LEO).
- Technology Transfer (ToT): This is the first time ISRO has fully transferred a complete launch vehicle technology to an industry entity.
- Timeline: The Technology Transfer and Handholding phase is set for two years (24 months).
- During this phase, HAL will build at least two SSLVs with ISRO’s complete support.
- After two years, HAL will gain autonomy to independently build, own, and commercialize the SSLV.
- Strategic Significance:
- Commercialization: Accelerates India’s entry into the global, cost-competitive small satellite launch market.
- Empowerment: Positions HAL to transition from a component supplier to a full-service launch service provider.
- Ecosystem: Fosters the involvement of private Indian companies, MSMEs, and start-ups, aligning with the National Quantum Mission (NQM).
- Stakeholders: The agreement was signed by ISRO, HAL, NewSpace India Ltd (NSIL), and IN-SPACe.
This move is a cornerstone of India’s space reforms, aiming for faster, more frequent, and affordable launches.
You can watch an explanation of the significance of this transfer in this video: India’s First Rocket Transfer: ISRO–HAL SSLV Deal Explained.