Preliminary Examination: Current events of national and international importance. Main Examination: General Studies-III: Science and Technology, Awareness in the fields of IT, Space. What’s the ongoing story: In a major boost to India’s space industry, Skyroot Aerospace is likely to become the first private company to launch an orbital space rocket. On Saturday, Skyroot flagged off the payload fairing for its Vikram-1 rocket in Hyderabad , with the launch of the rocket slated for later this year.   Key Points to Ponder: — Read about the Vikram-1 launcher.  — What is the significance of the Vikram-1 rocket? — What is the status of private sector participation in India’s space sector? — How does the Indian space sector benefit from private-sector participation?  — What are the challenges related to the private sector participation in India’s space industry? Story continues below this ad — What are the various launch vehicles of ISRO and what are their specifications?…