Chandrayaan-3 impacts India's space economy

When the Mission Operations Complex (MOX) at ISTRAC ( Isro Telemetry, Tracking and Command Network) in Bengaluru received this message from Chandrayaan-3 on Saturday at 19.12 hours, India created yet another history by inserting a spacecraft by the country into the Moon’s orbit successfully for the third time, in human civilisation’s 140th mission to the Earth’s natural satellite.

This was one of the most vital steps ahead of the spacecraft’s goals to soft-land on the Moon’s surface on August 23, which will give India an entry to the elite league of countries to do so. The only other countries to achieve this so far are the United States, Soviet Union and China. The private sector is upbeat as Chandrayaan-3 is likely to give a further push to India’s space economy which is expected to grow beyond $40 billion by 2040 from around $8 billion now. Based on government estimates, India’s share in the global space economy of $360 billion is hardly around 2 per cent.

“I am very happy and proud that the Chandrayaan mission is going as per the plan. These are all steps and we definitely see a successful mission at the end of the road.