The Union Cabinet, chaired by Prime Minister Narendra Modi, approved the establishment of a Third Launch Pad (TLP) at ISRO's Satish Dhawan Space Centre in Sriharikota, Andhra Pradesh, on Thursday.

The third launch pad will act as a backup for the second launch pad and supply launch infrastructure for Isro's next-generation launch vehicles (NGLV). It is also anticipated to improve India's capacity to assist upcoming human spaceflight missions, bolstering the nation's potential for space exploration. The TLP will have a versatile and adaptable design that can accommodate a range of launch vehicles, such as the NGLV, LVM3 with a semi-cryogenic stage, and NGLV scaled-up versions. 

In addition to utilizing Isro's experience in establishing launch pads, the project will guarantee the full involvement of industry participants. The launch complex will make the best use of its current facilities as it is being developed. The total estimated cost of the project is Rs 3,984.86 crore, which includes building the launch pad and its related infrastructure.

The TLP is a vital project for India’s space program, as it will allow more frequent launches and support the country’s efforts in human spaceflight and advanced space exploration missions. It is recognized as a project of national importance.