Prior to the actual launch by 2022, the Indian Space Research Organisation will have two unmanned missions and spacecraft will be fired using Geosynchronous Satellite Launch Vehicle Mark-III, Mr Sivan said.
Modi who is delivering his last Independence Day speech before the 2019 Lok Sabha elections was sporting a white attire with a saffron turban.
He spoke for over 65 minutes in 2014 and 86 minutes in 2015.
During the last one year, public support for demonetisation appears to have fallen, with 65 percent of those surveyed in a poll supporting the move, as opposed to 80 percent a year earlier.
While the country is brimming with self-confidence today, it is forging ahead with a new sense of commitment, he said. "India is moving forward at a new pace".
However, Mr Modi suggested that a single astronaut - a "an Indian man or woman" - would take... This human space flight venture, he said, would take the country's science and technology field to a very high level, inspire the younger generation, and "every Indian can be proud of it". "I am eager because we have to lead a knowledge-based fourth industrial revolution", he said.
He said its economy was seen as fragile before 2014 but was now attracting investment.
"With the blessings of the farmers, the decision on MSP was taken by our government", he added, referring to his government's decision to raise the MSP to 1.5 times the cost of production. Prime Minister Modi said that had the country continued at the pace of 2013 under the UPA, the country would not have achieved many socio-economic targets that it has in the past four years for decades. "The narrative has changed", he said. "But, now the world is saying that policy decisions are being taken as per the "reform, perform and transform" norm". Red tape has been replaced with "red carpet", propelling India on the ease of doing business ranking, he said.
"They say the sleeping giant has woken up and started walking. For the next three decades, India is going to guide and speed up the world economy". "India will be the engine of growth". He went on to list reforms like the Goods and Services Tax (GST), bankruptcy and insolvency law and benami property law and said they had helped transform the economy.
Electrifying all villages, providing five crore cleaner cooking gas to poor women, doubling the pace of highway construction, record foodgrain production, record mobile phone manufacturing, and building four-time more new houses in villages were some of the achievements of his government, he said.
CII said the announcement of the Pradhan Mantri Jan Aarogya Abhiyaan for health under the Ayushman Bharat scheme from September 25 is a milestone for the nation.
The measures initiated by the government had also led to near doubling of direct tax assesses from almost four crore to 6.75 crore and indirect tax assesses from 75 lakh to 1.16 crore on account of introduction of GST apart from barring over three lakh suspicious companies in the anti-black money drive.
He mentioned the Swachh Bharat Mission, and claimed a World Health Organization study had praised it.