New Delhi, Sept. 18 -- Indian space programme planners fully realise that they no longer enjoy the cheaper launch costs that Isro's Polar Synchronous Launch Vehicle (PSLV) once offered in the international rocket launch market.

SpaceX emerged as a major technological and economic disruptor, and many now understand that disruption often compels Indian space financiers, including venture capital firms, to make up for lost ground. Of course, bringing India's launch cost per kilogram back in line is a metric to re-achieve, but so is working on the immense economic benefits possible through miniaturizing satellites.

India is on the verge of having at least three small satellite launchers capable of conducting commercial launches: Vikram-1 by...