Â
As Chandrayaan-3 of the Indian Space Research Organization (Isro) captured the Moon, it was a historic day for the nation.
In addition to raising the nation's pride, the accomplishment has created a wave of opportunities for a number of industries that may help India realize its goal of being the third-largest economy in the world.
Chandrayaan-3 expands the Indian space industry.
According to analysts, Isro's astounding achievement has created new chances for a number of start-ups and businesses operating in industries like space technology, aerospace, defense, and R&D.
The accomplishment will undoubtedly increase government spending on space research in the future, but it will also increase private investment in related industries, which will ultimately support economic growth.
India already has 140 space-tech start-ups registered, and the moon mission's success is likely to provide each one of them a huge boost. In fact, according to Mukesh Kochar, National Head of Wealth Management, AUM Capital, it can solidify India's status as a competitive satellite launcher, boosting industries like aerospace and defense.
"It is one of India's key turning points. India presently contributes about 2-3% to the global space economy, and in the next 8–10 years, it is anticipated to contribute about 8–10%. India will become known as a reliable satellite launcher as a result, and a global opportunity could arise. Defense and aerospace industries will benefit, according to Kochar.
In India, there are about 140 registered space startups. After the success of this incredible voyage, these firms should draw a lot of investment. Future projections call for an increase in the fiscal allotment as well. Overall, this will help the Indian economy, he continued.
Partner of Deloitte India, Sreeram Ananthasayanam, concurs. In addition to bringing our nation together, he said, "Historical, once-in-a-lifetime moments like these pave the way for an increased scientific temper among the youth of India, an accelerated pathway for self-reliance in emerging sectors and technologies, and instilling the confidence to be among the top 3 economies of the world."
The ceremony today will launch India's space industry into the next orbit, he continued, serving as "a classic lesson in focused perseverance, economic innovation, and sovereignty in new and emerging tech."
The moon landing of Chandrayaan-3, according to Kartik Ganapathy, Founding Partner of INDUSLAW, "firmly cements India's place in the list of space-faring nations."
"The landing demonstrates India's in-house technological prowess and gives its scientific temperament fresh life. We anticipate that the success of the moon landing would spark increased interest in Indian businesses engaged in space-related activities, such as exploration, component manufacture, navigation and mapping, observational data, and other related tasks, the official said.
The new Indian Space Policy 2023, he continued, is a signal to the Indian sector that their participation in the nation's plans for space exploration is "now being actively sought."
"This is a happy indication of what is hopefully a positive surge in the space sector and allied industries in India," he continued. "This juxtaposed with the successful Chandrayaan-3 mission and Moon landing are happy indications of what is."
'Make in India' will benefit from Chandrayaan-3.
The success of Isro's Moon mission, according to experts, will reinforce the 'Make in India' brand and promote the expansion of domestic firms engaged in the creation of satellite systems, telecommunications, and other technologies.
"The success of Chandrayaan-3 is a source of pride that will further advance the "Make in India" brand and enhance the "Made in India" reputation. Satellite systems, telecommunications, and related software and hardware industries should have greater chances, according to Kaushik Dani, Fund Manager PMS at Abans Investment Managers.
"That could include companies dealing in designing, assembling, and testing of equipment, particularly towards space exploration technology," he continued.
