Polar Satellite Launch Vehicle (PSLV) is a versatile vehicle designed and developed by Indian Space Research Organisation. The vehicle has been successfully deployed for remote sensing, Navigation, communication and deep space missions. The reliability of the vehicle is as high as 0.97 and the vehicle is gaining importance in the international market as the demand for satellite launch is increasing continuously from the international customers in addition to the domestic users.

Government of India approved several advanced time bound projects like commercialization of GSLV Mk III, design and development of semi-cryo stage, Gaganyaan human space mission and other advanced space exploration missions. It is evident that the limited resources of ISRO will be utilised for these projects for their timely completion where lot of research and development is involved. At the same time, the regular production of PSLV shall be realised by an industry consortium and ISRO will confine to do mission analysis & planning and configuration controls.

ISRO has initiated an action plan to productionise PSLV through Industry, and Government has approved the proposal. Anticipating such a proposal and earlier interactions, the current strategic partners of ISRO i.e., HAL and L&T signed an MOU for realising the PSLV stages and supply to ISRO, making use of existing supply chain for materials & components and production & integration facilities of ISRO.