New Delhi: Prime Minister Narendra Modi on Thursday hailed the successful launch of PSLV-C33 carrying 7th navigation satellite IRNSS-1G to complete the landmark mission for a regional navigational system.

He said the navigation satellite will be known as 'Navic'. "In space science, our scientists have achieved many accomplishments. The world will know it as Navic," Modi said.

"First and foremost I want to congratulate all ISRO scientists and the entire team. I also congratulate the people of India," Modi said.

Underlining that through space science lives of people can be transformed, he noted that India has launched seven such navigation satellites which have been successful.

"With this successful launch, we will determine our own paths powered by our technology. This is a great gift to people from scientists," the Prime Minister said.

"Our efforts will help not only India but we can help fellow SAARC nations as well," he said. Modi said the benefits from this new technology will benefit people of the country, particularly the fisherfolk.

"This is example of 'Make in India, Made in India and Made for Indians. 125 crore Indians have got a new Navic," he said.

(With inputs from PTI)