Tirupati, Nov 14 The Indian Space Research Organization (ISRO) chief K. Radhakrishnan said here on Saturday that India is developing the Geosynchronous Satellite Launch Vehicle Mark III (GSLV Mk III) to enhance the capability of the country to be a competitive player in the multimillion dollar commercial launch market.

Addressing the Andhra Pradesh Science Congress here, Radhakrishnan said: "We are working on a new launch vehicle development GSLV Mark III which is expected to be flying in the coming years. And a major milestone in the development is going to be the static testing of the systems."

"We could realize the world's third largest propellant boosters H200 with 200 tonnes of propellants mixed in India, in a plant which is mostly automatic, which is situated in Shreeharikota with our own technology, with the ingredients coming from the Indian Industry based on our technology," he added.

GSLV Mk III is conceived and designed to make ISRO fully self reliant in launching heavier communication satellites of INSAT-4 class, which weighs 4500 to 5000 kilograms.

The vehicle envisages multi-mission launch capability for GTO, LEO, Polar and intermediate circular orbits.

In his address Radhakrishnan also noted that ISRO is giving stress for the development of miniature satellite system involving Indian Universities.

"Today our universities are enabled to make satellites of 1kilogram and 6 kilograms class. This is one of our major thrust for the future," he said.

In August, students of the Indian Institute of Technology, (IIT) Kanpur had developed a Nano satellite, 'Jugnu' under the guidance of ISRO.

The satellite weighs less than three kilograms and consists of advanced functionalities that other normal satellites have. The payload of satellite would include a camera, designed with complete indigenous technologies, in the purpose of near remote sensing.

There would be a GPS receiver and finally the satellite will transmit blinking signal while making the rounds over the earth.

The Nano satellite is scheduled to be launched by the ISRO in December. (ANI)