'Akash' is part of Indian's Integrated Guided Missile Development Programme.
Weighing about 700 kilogrammes, the sophisticated missile uses an integral ramjet rocket propulsion system and has a low reaction time.
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The missile test was conducted on the same day India and Pakistan signed an agreement in Islamabad formalizing their long-standing practice of notifying each other of plans for ballistic missile tests.
It was the naval version of Prithvi, which has a range of 250 to 300 km.
The missile, which has a launch weight of 700 kg, can carry a warhead of 60 kg and operated in conjunction with a Rajendra surveillance and engagement radar being developed by the Electronic Research and Development Establishment.
Pillai said the exports and induction of the missile in the armed forces would be carried out simultaneously.
The supersonic cruise missile was fired from a mobile launcher at 12:10pm amidst heavy rains caused by a deep depression in the Bay of Bengal, which crossed the Orissa coast around the same time.
The missile test was carried out from a mobile launcher from launch complex-3 of the Integrated Test Range at about 10 am, defence officials said.
Akash was aimed at a target attached to Lakshya, the pilotless target aircraft.
With a range of 25km, Akash is one of the five missiles currently under development by the Defence Research and Development Organisation.
The sophisticated multi-target missile was test fired from a mobile launcher at about 1230 IST.
Lakshya is the indigenously developed Pilotless Target Aircraft.
The missile was aimed at a moving object, sources said.
The supersonic anti-ship cruise missile was jointly developed by India and Russia.
India successfully test-fired its indigenously developed nuclear capable sub-sonic cruise missile 'Nirbhay', which can strike targets more than 700 kms away, from a test range at Chandipur near Balasore in Odisha on Friday.
The surface-to-surface Prithvi-II missile is capable of carrying 500 kilogram to 1,000 kg of warheads and is thrusted by liquid propulsion twine engines
The indigenously built multi-target missile has a range of 25km and is one of the five missiles under various stages of development by the DRDO.
Astra is an indigenously developed air-to-air missile.
DRDO scientists, who conducted the test, described it as a user's trial.
It hit a target dropped from an AN-32 aircraft.
The indigenously built multi-target missile can carry a 50kg payload.
The missile targeted a floating object supported by the pilot-less target aircraft 'Lakshya', defence officials said.
After achieving the precision guidance capability from a fixed launcher in its fourth trial on October 29 last, the missile was on Sunday test-fired from a mobile launcher.
The missile, weighing 650kg, can carry a 50kg payload over a distance of 25km.
This variant of the missile takes just 300 seconds to reach a target located at a distance of 150km.
The sleek 3.8 metre high missile has a striking range of 25 to 40 km.
The DRDO has so far conducted 16 trials of the army version of the missile since its first trial on February 22, 1988.
India today successfully test fired indigenously-developed surface-to-air Akash missile with a strike range of 25 km and capability to carry warhead of 60 kg from the Integrated Test Range at Chandipur as part of a user-trial.
Nirbhay, India's first home-grown subsonic cruise missile, was on Friday successfully test-launched from the Interim Test Range in Chandipur, near Balasore in Orissa.
The air-to-air missile is to form the main interception armour of the indigenously developed Light Combat Aircraft.
The successful test will result in huge savings of replacement cost of missiles held in the inventory of the Indian Armed Forces.
In fresh trials, India has test-fired its indigenously developed Nag anti-tank guided missile, which can hit a target up to seven km, from a helicopter at a firing range in Jaisalmer in Rajasthan.