NEW DELHI (PTI):  India's space regulator has invited bids from the private sector for the transfer of technology of the Small Satellite Launch Vehicle (SSLV) developed by the Indian Space Research Organisation (ISRO) that is capable of carrying a payload of up to 500 kg to low earth orbit.

The Indian National Space Promotion and Authorisation Centre (IN-SPACe) on Tuesday said it has taken the initiative to transfer the technology of SSLV to private Indian industries that are keen on assimilating the technology, setting up manufacturing and business operations and competing in the global satellite launch market.

"This first of its kind Transfer of Technology is a significant milestone for the Indian Space Sector. Unlike in the case of Polar Satellite Launch Vehicle (PSLV), where a manufacturing contract was awarded to a consortium, in case of SSLV, the launch vehicle technology is being offered in its entirety to the private industry," Pawan Goenka, Chairman, IN-SPACe said in a statement.

He said it was expected that the recipient of the SSLV technology would be able to grow the small satellite launch segment in a big way, paving the way for India to become the global hub for such launches.

ISRO Chairman S Somanath said SSLV was an outcome of years of effort of hundreds of ISRO scientists and he was confident that the transfer of technology will give a big boost to private industries' efforts to engage in the space sector.

"The private space industry in India so far has played a limited role in contrast to the global scenario wherein private players are at the forefront of space activities. ISRO needs to mentor and handhold the private industry in India and work in a collaborative mode for the overall development of the sector," Somanath said.

SSLV is a three-stage solid launch vehicle capable of carrying a payload of up to 500 kg to a 500 km circular orbit.

"This technology transfer of SSLV will provide a unique opportunity for the Indian industry to understand and assimilate the intricacies and complexities involved in the development of launch systems, set up a launch vehicle design and manufacturing base by themselves and compete in the lucrative global launch market," an INSPACe statement said.