Gautam Adani's BIG move in space sector, Adani-backed firm among three finalists in India's...

Indian conglomerate Adani Group is one of three finalists in the race to take over the private production of India’s Small Satellite Launch Vehicle (SSLV), alongside two government-linked companies, according to a Reuters report.

The SSLV, developed by the Indian Space Research Organisation (ISRO), is a low-cost rocket designed to launch small satellites of up to 500 kg into low-Earth orbit (LEO). This segment is currently the most in-demand in the satellite launch market.

After SSLV’s first successful launch in 2023, the Indian government decided to transfer its production and technology to private industry. This move is part of a broader effort to expand India's commercial space sector and compete in the global satellite launch market, which is currently dominated by private players like SpaceX.

Among the three finalists are Alpha Design Technologies, backed by Adani Defence Systems and Technologies; state-owned Bharat Dynamics Limited; and Hindustan Aeronautics Limited. About 20 companies had initially expressed interest in bidding for the SSLV contract.

The winning bidder is expected to pay ISRO around 3 billion rupees ($30 million) for SSLV’s design know-how, manufacturing processes, and quality-assurance training. The deal also includes up to 24 months of technical support or two successful launches.

Experts believe this privatisation could be a game-changer for India's space industry. “LEO is the name of the game right now, so the potential winner has the opportunity to tap into a rapidly growing market,” said Damodaran Raman, a space tech expert at Deloitte.

India currently holds only 2% of the global space economy, but the Modi government aims to increase this fivefold to $44 billion by 2030. The SSLV deal is seen as a crucial step in achieving that goal.