With the successful landing of Chandrayaan 3 on August 23, India became the fourth nation after the former USSR, the United States, and China to conduct a soft landing on the lunar surface. In addition, India became the first country to reach the moon’s south pole.
It is said that Chandrayan 3 will help the government’s budget in the future and that this achievement will attract investors to Indian space research, which will help the country’s economy flourish.
This accomplishment created a tsunami of prospects for numerous sectors after India attempted to land on the lunar south pole in September 2019, but the Chandrayaan-2 mission crashed into the moon’s surface owing to a software fault.
Around 140 space technology businesses are registered in India, and this lunar mission’s success is likely to provide them all a significant boost. Mukesh Kochar, National Head of Wealth Management, AUM Capital, believes that it can also be advantageous for the development of India’s position as a highly efficient satellite launcher, enhancing the aerospace and defence industries.
Sreeram Ananthasayanam, a partner at Deloitte India, provides his counsel. He said that, in addition to uniting our country, “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.”
All the industries involved in satellite systems, telecommunications, both software and hardware should improve their prospects, according to Kaushik Dani, Fund Manager PMS, Abans Investment Managers. Chandrayan 3 can boost Make in India initiative and improve the brand image and brand name.