Bangkok: India marks a significant milestone as Skyroot Aerospace, a pioneering Indian space startup, successfully launched its Vikram-1 rocket into low Earth orbit. This achievement, part of the "Mission Aagaman," took place at the Satish Dhawan Space Centre, marking the first time India's private sector has accomplished such a feat.

According to Thai News Agency, the Vikram-1 rocket managed to deploy a satellite and experimental equipment into orbit at an altitude of 450 kilometers within just 15 minutes. This advancement positions India as the third country worldwide capable of launching rockets into orbit through private enterprises. The 22-meter tall rocket is powered by a three-stage solid-fuel system and a liquid-fuel orbital adjustment module, incorporating India's first 3D-printed engine technology. It carries experimental satellites for both domestic and international clients, intended to gather data for navigation and flight control systems.

Skyroot Aerospace, founded in 2018, has quickly become a significant player in the space industry, reaching a valuation of $1 billion earlier this year. The company is competing in the global small satellite market alongside giants like SpaceX.

This development follows the Indian government's 2020 move to liberalize the space industry, aiming to attract private sector investment. This shift intends to reduce the monopoly of the state-owned Indian Space Research Organization (ISRO) in launching operations. The initiative seeks to increase India's share of the global space economy from its current US$8 billion to US$44 billion by 2033, enabling the country to compete with established space powers such as the United States, Europe, and China.