Chennai, July 22 (ANI
): ISRO will be having a consortium of public and private industries by 2020
to augment satellite launch capabilities, said ISRO
chairman A.S Kiran Kumar
Addressing the alumni of the Madras Institute of Technology here, he said India needs about 70 satellites operational in space to meet its various needs.
Presently 36 satellites are offering their services, which is far short of the requirements.
He said to enhance the number of satellite launches; involving the public and private sectors is necessary and a formal consortium
will start functioning from the space port at Sriharikota.
Referring to the Indian Regional Navigation Satellite Systems IRNSS, Kumar said the constellation of seven satellites has started offering its services equivalent to the Global Positioning System.
With a lot of innovations, the cost of the navigation satellite system has drastically come down. "GSLV Mark 2" rocket will get ready for its flight in a few weeks and the much heavier version "GSLV Mark 3" capable of launching four-ton communication satellites will zoom into space by this year end, he said. (ANI