Adani Group, an Indian conglomerate, and two government-affiliated organizations are finalists that will assume private manufacturing of India's Small Satellite Launch Vehicle.

The Indian Space Research Organization created the SSLV, a low-cost vehicle that can launch satellites up to 500 kg (1,100 pounds) into low-Earth orbit, or LEO, which is the most desirable market for satellite launches.

As part of a larger initiative to grow India's commercial space industry, the government decided to hand over the vehicle's manufacture and technology to the private sector following its initial successful launch in 2023.

The most well-known aspect of India's privatization initiatives has been that action, which the government thinks will help the nation gain a larger portion of the rapidly expanding global satellite launch industry, which is controlled by private companies like SpaceX.

The SSLV, the first privatization of its sort under Prime Minister Narendra Modi's strategic campaign to open up India's space industry, initially attracted bids from about 20 organizations.

The three finalist consortiums are Hindustan Aeronautics Limited, state-backed Bharat Dynamics Limited, and Alpha Design Technologies, in which Adani Defence Systems and Technologies has a share.

About 3 billion rupees ($30 million) would be paid by the winning company to India's space agency for the SSLV, which will cover design expertise, manufacturing procedures, quality-assurance training, and up to 24 months of technical support or two successful launches.

According to research firm Mordor Intelligence, the global market for satellite launch vehicles is expected to increase from $5.6 billion in 2025 to $113 billion by 2030, with low-Earth orbit launches leading the way.

Only two percent of the world's space economy is based in India. By the end of the decade, the Modi administration plans to increase that portion fivefold to $44 billion.