NEW DELHI: In a step towards outsourcing its launch vehicle programme, the Indian Space Research Organisation (Isro) is planning a joint venture with a consortium of companies where a space rocket will be completely built by the private industry.Speaking exclusively to TOI on the sidelines of an international seminar on 'Indian Space Programme' here, Isro chairman A S Kiran Kumar said, "The target for such a (fully privately built) launch vehicle is 2020-21. Isro will be part of the JV. Work is in progress to put the mechanism in place."Till now, Isro was the only manufacturer of the Polar Satellite Launch Vehicle (PSLV). In the two decades since PSLV 's debut launch, Isro has launched 39 consecutive successful missions. While commenting on a recent report that China is planning to reduce the cost of launching satellites to woo foreign customers, the Isro chief said, "We will continue to improve our cost-effectiveness. It (launch cost) is not linked to what someone else is doing. It's not possible to change your activities at such a pace."On increasing the number of satellites, Kiran Kumar said, "Currently, there are 42 satellites in orbit. These satellites are being used for earth observation, navigation and communication purposes. Still, we are significantly short of communication satellites. Therefore, Isro will double its launch frequency from 8-10 launches (per annum) to about 20 from 2018 onwards. We are targeting to launch 60 satellites in the next five years ."He said, "We want to maximise launches with the existing launchpads. We are also working on a plan to get the third launchpad at Sriharikota to increase our launch capabilities." Stating that the space agency is currently engaged with over 500 industries, the Isro chief said making use of all the sections of society and its talent is required to enhance the capabilities.Isro is going to resume satellite launches from mid-December after a lull of three months. On August 31, the launch of replacement navigation satellite IRNSS-1H failed because the spacecraft got stuck in the heat shield during the launch. On the safety steps being taken after the unsuccessful launch, Kiran Kumar said, "Reasons (for the failure) have been identified and corrective measures are being taken for all future lunches."