India successfully launches fifth navigation satellite - An Indian Polar Satellite Launch Vehicle (PSLV) rocket was today launched successfully with the country's fifth navigation satellite IRNSS-1E from the rocket port in Sriharikota.

With the launch, India is now closer to joining a select group of nations having their own satellite navigation systems.

Prime Minister Narendra Modi cheered ISRO officials for this success.

IRNSS-1E is the fifth navigation satellite in the IRNSS space system, containing seven satellites, which would be equal to US-based GPS.

It has configuration similar to its precursors IRNSS-1A, 1B, 1C and 1D. The Indian Regional Navigation Satellite System (IRNSS) comprises of a constellation of seven satellites of which five - IRNSS-1A, IRNSS-1B, IRNSS-1C, IRNSS-1D and IRNSS-1E-have been placed into orbit till date.

As per the officials, two more navigation satellites will be launched soon to complete the launch of seven satellites needed for a fully functional system. The IRNSS system also contains two satellites on the ground as stand-by.

Each satellite is valued at around Rs.150 crore while the PSLV-XL version rocket costs around Rs.130 crore. The seven rockets would involve an expenditure of around Rs.910 crore. Once fully operational, the IRNSS will make available accurate position information service to users across the country and the region, extending up to an area of 1,500 km.

The IRNSS is like the global positioning system (GPS) of the US (24 satellites), Glonass of Russia, and Galileo of Europe, China's Beidou.

The IRNSS will deliver two types of services - standard positioning service and restricted service.