Larsen & Toubro and Hindustan Aeronautics are among companies vetted to potentially bid in India's efforts to privatise its small satellite launch rocket, a source told Reuters, as the government seeks more investment in the booming space market.
The Small Satellite Launch Vehicle was developed by the Indian Space Research Organisation , the national space agency, as a low-cost means to launch satellites weighing up to 500 kg into low-earth orbit.
They serve a booming market to launch clusters of satellites for communications and data that SpaceX and rivals compete in.had submitted an expression of interest in bidding on the privatisation, the first of its kind under a policy drive by Prime Minister Narendra Modi to open launch and other space businesses to investment.
India is aiming to increase its share of the global satellite launch market by fivefold within the next decade. The next step will be to open the bidding process itself, the person said, who had direct knowledge of the matter but asked not to be named because discussions are not public.
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