India’s ISRO achieved a historic milestone with Chandrayaan-3’s Moon success. This prideful moment not only elevates the nation but also triggers opportunities for sectors like space tech, aerospace, and defense, fostering economic growth.
The feat fuels ISRO’s space budget and private investments, aiding start-ups in the field. With 140 space-tech start-ups, India could become a budget-friendly satellite launcher, benefiting aerospace and defense.
Historic milestone with Chandrayaan-3’s Moon success
“It is one of the biggest milestones for India. India currently contributes around 2-3 per cent to the global space economy and it is expected to contribute around 8-10 per cent in the next 8-10 years. This will establish India as a cost-effective satellite launcher and a global opportunity may emerge. Sectors like aerospace and defence will get a boost,” Kochar said.
“There are around 140 registered space startups in India. These startups should attract a lot of investment after the success of this remarkable journey. The budgetary allocation is also expected to increase going forward. So overall this will give a boost to the Indian economy,” he added.
Sreeram Ananthasayanam, Partner, Deloitte India, said, “Historical, once-in-a-lifetime moments like these, while uniting our country, also pave the way for an increased scientific temper amongst the youth of India, an accelerated pathway for self-reliance in emerging sectors and technologies, and instilling the confidence to be amongst the top 3 economies of the world.”
“A classic lesson on focused perseverance, economic innovation and sovereignty in new and emerging tech, today’s event will propel India’s space economy to the next orbit,” he added.
Meanwhile, Kartik Ganapathy, Founding Partner, INDUSLAW, says that the ”landing of Chandrayaan-3 on the Moon firmly cements India’s place in the list of space-faring nations”.
“The landing showcases India’s indigenous technological prowess and supplies renewed vigour to its scientific temper. With the success of the moon landing, we hope that there will be a renewed interest in companies in India involved in the space sector, which include exploration, component manufacturing, navigation and mapping, observational data and various other activities,” he said.
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