Yes in last 3 years we have developed our own navigation system IRNSS (Indian regional navigation satellite system) or you can call it नाविक (NAVIC – Navigation with Indian Constellation) it’s an operational name given by ISRO.
There was always a need for satellite navigation system to the country but an event made it inevitable. It was 1999, when Pakistan took positions in Kargil and USA could have provided the information through its GPS but USA denied to India.
ISRO launched last 7th satellite on 28th April 2016. There are 7 satellites and first one was launched on 1 July 2013. In which 3 satellites in GEO orbit and 4 satellites in GSE orbit at 36000 kms altitude. IRNSS will be offering 2 types of services, one is Standard Positioning Service (SPS) which will be for commercial use and second one is Restricted Services (RS) for military. SPS has accuracy of 20 meters means it can detect movement of object by less than 20 meters and RS has 10 meters which can detect movement of objects by less than 10 meters. Now all the satellites in orbit and it is expected that IRNSS will operate from June 2016 onwards.
India can keep close watch on its borders and 1500 kms beyond that. See in image, IRNSS will be covering Pakistan and China completely.
In the terms of Geopolitics, it’s better to have your own navigation system than to rely on the other countries. Because in the time of conflict and hostile situations other countries may deny the service. The navigation system can be used in guided missiles and bombs.
And these days navigation systems is also in demand for commercial and civilian domain. If you want to track someone’s position or want to reach a destination you need the navigation system. Many critical services and businesses depended on it.
Other countries which have their own navigation systems are: US which operates the Global Positioning System (GPS), Russia has its own GLONASS and European Union, Galileo. China is also in the process of building Beidou Navigation Satellite System (BDS).