Skyroot Aerospace's Vikram-1, India's first privately developed orbital launch vehicle, successfully placed technology demonstration satellites in Low Earth Orbit (LEO) from Sriharikota on July 18, 2026, making India only the third country after the US and China with private orbital launch capability. This article explains the Vikram-1 mission and Skyroot Aerospace, what Low Earth Orbit is, how orbital slots and radio frequencies are governed under the Outer Space Treaty and the ITU, the global race for LEO and satellite megaconstellations, India's space sector reforms, IN-SPACe and the Indian Space Policy 2023, the strategic significance of sovereign launch capacity, and the bottlenecks ahead — with UPSC Prelims facts, MCQs and Mains practice questions.