New Delhi, India, 9 May 2006 – The Union Cabinet gave its approval on May 9 to undertake the development and deployment of an Indian Regional Navigation Satellite System (IRNSS) at a cost of Rs. 1420 crores (USD 312 million), with a foreign exchange component of Rs. 1100.00 crores (USD 246 million) excluding launch services.
IRNSS will provide an independent, indigenously developed constellation of satellites to provide satellite-based position, navigation and timing service for critical national applications. The IRNSS Satellites are to be launched using India’s PSLV, as a part of PSLV-Continuation Programme. The development and deployment of IRNSS constellation, the ground infrastructure, navigation, safety and certification, verification software is expected to be completed in 5-6 years from the date of approval of the project.