India's space program is on the cusp of a significant transformation with the imminent launch of its first privately manufactured Polar Satellite Launch Vehicle (PSLV). This milestone, expected in early 2026, signifies a major leap towards commercialization and private sector participation in the nation's space endeavors.
The mission, designated PSLV-N1, will carry the EOS-10 earth observation satellite. This launch marks the first time that India's flagship rocket is being manufactured outside of the Indian Space Research Organisation (ISRO) by private industry partners.
Hindustan Aeronautics Ltd. (HAL) and Larsen & Toubro (L&T) are jointly manufacturing the rocket under ISRO's supervision. In 2022, ISRO awarded a contract to the HAL and L&T consortium for the end-to-end production of five PSLV-XL rockets. While the contract initially calls for five launch vehicles, there is a possibility of manufacturing ten more in the future.
A.T. Ramchandani, Senior Vice President and Head, L&T Precision Engineering and Systems, noted that the consortium had faced challenges in producing some launch system components, but ISRO intervened to help resolve the issues.
This initiative is part of the space-sector reforms initiated in 2020, which opened up rocket manufacturing and satellite services to private players. This is a significant shift from the past, where PSLVs were exclusively built by ISRO. The commercialization of PSLV began with the involvement of private industry partners in manufacturing auxiliary components for ISRO’s space missions. ISRO is keen to step back from PSLV manufacturing and encourage industry-led production.
India's space economy was valued at USD 8.2 billion in 2025 and is projected to reach USD 44 billion by 2033. Private PSLV production is expected to accelerate this growth. ISRO has scheduled seven launches by March 2026, with multiple PSLV missions expected in the same year.
ISRO aims to delegate the production of proven rockets to private entities, allowing it to focus on cutting-edge missions, research, and development. This will also increase the frequency of satellite launches without overburdening ISRO.
The PSLV is a medium-lift launch vehicle designed and operated by ISRO. It was developed to allow India to launch its Indian Remote Sensing (IRS) satellites into Sun-synchronous orbits. The PSLV can also launch small size satellites into Geostationary Transfer Orbit (GTO). It has a height of 44 meters and a diameter of 2.8 meters. The PSLV-XL variant has a mass of 320,000 kg.
Some notable payloads launched by PSLV include India's first lunar probe Chandrayaan-1 and India's first interplanetary mission, Mars Orbiter Mission (Mangalyaan).
The first flight of privately built PSLV is likely to happen in early 2026, with at least two more launches planned for next year. The first launch, PSLV-N1, will carry earth observation satellite EOS-10. The mission was initially scheduled for the first quarter of 2025 but was delayed because the satellite was not ready.
