On November 6, 2025, ISRO Chairman V. Narayanan announced a landmark decision to transfer 50% of the Polar Satellite Launch Vehicle (PSLV) development to an Indian industry consortium led by Hindustan Aeronautics Limited (HAL) and Larsen & Toubro (L&T). This move recognizes the vital role played by domestic aerospace, defense, and engineering sectors, which currently supply 80-85% of systems for ISRO’s missions. The consortium has already produced its first PSLV rocket, slated for launch by February 2026. Narayanan highlighted that after two successful launches by the consortium, ISRO plans to hand over half the PSLV development directly to Indian industry, accelerating indigenous manufacturing and self-reliance in space technology. Currently, over 450 industries and more than 330 startups are contributing to ISRO’s ecosystem, supported by the government’s space sector reforms. This strategic transfer marks a significant step toward India’s vision of scaling satellite launches and boosting its global space capabilities through strong public-private partnerships. It also reflects the transformational journey of ISRO, from humble beginnings to leading world-class rocket development.