Complex sentence: The GSLV-III or Geosynchronous Satellite Launch Vehicle Mark III is a launch vehicle currently under development by the Indian Space Research Organization to launch heavy satellites into geostationary orbit, and will allow India to be less dependent on foreign rockets for heavy lifting.
Split into simpler sentences: The GSLV-III or Geosynchronous Satellite Launch Vehicle mark III is a launch vehicle currently under development by the Indian Space Research Organization. It is intended to launch heavy satellites into geostationary orbit, and will allow India to become less dependent on foreign rockets for heavy lifting.