Chennai: The ISRO Chairman AS Kiran Kumar on Friday  said the national space agency will be having a consortium of public and private industries by 2020 to augment satellite launch capabilities. Addressing the alumni of the Madras Institute of Technology in Chennai, he said India needs about 70 satellites operational in space to meet its various needs.

Presently 36 satellite  were 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 Sriharikotta.

Referring to the Indian Regional Navigation Satellite Systems IRNSS, Mr Kiran 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 4-ton communication satellites will zoom into space by this year end, he said.