India today successfully launched five foreign satellites from four countries on board PSLV-C23 rocket. The five satellites, launched from Satish Dhawan Space Centre at Sriharikota, include two from Germany, and one each from France, Canada and Singapore.

Prime Minister Narendra Modi who witnessed the lift off, congratulated the scientists for the successful launch. Addressing the scientists, Mr Modi said, today's launch is a global endorsement of India's space capability.

Appreciating the hard-work of the scientists of four generations in keeping pace with technology, Narendra Modi asked them to develop a space technology useful for the SAARC Countries.

President Pranab Mukherjee also congratulated the Indian Space Research Organization for the successful launch of PSLV-C23. In his message, Mr Mukherjee described it as a significant milestone in the progress of the country's space capabilities.

India's PSLV missions which has a good success rate has opened up new avenues for commercial venture. After the successful launch of PSLV C 23 with five foreign satellites, Prime Minister Narendra Modi in his speech today exhorted the scientists to adapt technologies which are viable and unique in nature.

The Prime Minister asserted that India's technological capability could connect the sophisticated technology with common man. AIR correspondent reports that today’s commercial launch comes 16 months after the launching of six foreign satellites on board the PSLV C 20 last year.

The space agency has a plan to launch heavier form of satellites in the GSLV version over the next two years. According to the Satellite Industry Association report ,India charges around 15 million for a PSLV launch and 36 million dollar for a gslv.

The global satellite launch industry was valued at 5 and a half billion as of 2013. Launch orders were mostly from European Nations and trends indicate growing demand for heavier payload launches.