What good will Chandrayaan-3 bring to India and its 140 crore people?

India’s lunar dream Chandrayaan-3 is hours away from touching the surface of the moon. If things go fine, India will become the fourth country to achieve this rare feat. The cost of Chandrayaan-1 was Rs 386 crores, Chandrayaan-2— Rs 978 crores, and Chandrayaan-3— Rs 615 crores. India is on the verge of achieving massive success but millions in the country are still vague over the ideology of sending spacecraft to the moon. What will be the benefit to the whole country and 140 crore people?

According to experts, India will make a huge leap in intellectual, diplomatic, commercial, trade, and scientific fields. This achievement will be an indicator of India's progress towards achieving the status of an economic superpower in the world.

Commerce

When Chandrayaan-3 soft lands on the moon, India will similarly do a giant step ahead in terms of business. Chandrayaan-3 will be India's ticket to the multi-billion dollar 'moon economy'. Many private companies including startups will ponder over conducting a moon sojourn in the coming years. The current space commercial sector is valued at USD 486 billion. Within ten years it will become USD 1879 billion. A few years ago, India's space economy was valued at USD 9.6 billion. It is reported that by 2025, this will increase to USD 13 billion. Chandrayaan-3’s success will persuade more private firms to invest in space technology in the country.

Startup

Already, moves have begun to hand over PSLV, the dark horse of Indian space research, to the private sector. Last year alone, 100 space tech start-up companies registered with ISRO in India. From 2014 to 2023, the investment was Rs 1700 crore through 33 contracts. By 2030, investment in space startups in India is estimated to reach Rs 64,000 crore. There are already 400 private firms supplying goods to ISRO in Bengaluru, Hyderabad, and Pune. The world sees India as a strong space research nation on the back of its excellent performances in the last few years. That is why even America has started emulating India in various matters. With Chandrayaan seeing success, the situation will further turn conducive for India.

Kerala will also witness the change with Chandrayaan’s success. More space parks will sprout in the state and it will be no surprise since it is the same land that helped ISRO turn into a behemoth space center of the world.