Chandrayaan-3: How India’s Moon mission will be a game-changer for the economy

India is on the Moon and over the Moon – and rightly so. The nation became the first ever to successfully land an uncrewed probe – Chandrayaan-3 – on the Moon’s south pole. Moreover, it also became only the fourth country to soft-land a craft on the Moon, after the US, China and Soviet Union.As Chandrayaan-3 made the final descent on to the moon’s unexplored terrain, cheers broke out not only at the Indian Space Research Organisation but across the country and the world. Congratulatory messages poured in from all corners, and with this India has cemented its position as a player in the space exploration.The success of Chandrayaan-3 not only has boosted national pride for India; the success of Chandrayaan-3 will have a very real impact on the country’s economy. It will aid in bringing the country closer to its dream of becoming the third-largest economy in the world.Here’s how Chandrayaan-3’s success will help skyrocket India’s economy and economic prosperity.Economic boomThe success of Chandrayaan-3 will be a big game-changer for start-ups and companies involved in sectors such as space tech, aerospace and defence. Many experts and analysts believe that the successful landing of Chandrayaan-3 builds more credibility for India’s space programme. Investors, vendors, customers and everyone in the outside world will now take Indian space technology more seriously.Mukesh Kochar, National Head - Wealth Management, AUM Capital, further explained that India already has 140 registered space-tech start-ups. “These start-ups 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, from Deloitte India, shares the same views. “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,” he told India Today.[caption id="attachment_13034672" align="alignnone" width="640"] A man holds a banner congratulating ISRO after its lunar mission Chandrayaan-3's successful soft landing on the Moon’s surface, at B M Birla Planetarium, Kotturpuram, in Chennai. PTI[/caption]India’s current space market is worth around $8 billion and has been growing at about four per cent annually in the last few years. India's space economy is likely to touch $40 billion by 2040 and a successful Chandrayaan-3 mission may help India achieve the target much sooner, believe analysts.Experts also note that the triumphant landing will significantly enhance investor confidence. This, in turn, could magnetise a greater influx of international investments into the country.Moreover, increased private sector involvement can lead to the emergence of new start-ups, businesses, and job opportunities, further driving economic growth and innovation.The Chandrayaan-3 mission will also boost employment. More students will take up aerospace education and wish to join the space-tech ecosystem, increasing India’s employment rate.Kolkata-based investor Soumya Malani told BusinessToday, “It will definitely attract a lot of investment not only in the companies that have been part of this mission but also overall in the Indian space exploration sector as a whole,” he said adding it would also encourage government to spend more on these missions which can lead to positive sentiment for the related companies.”The Chandrayaan-3 success will also provide a fillip to the ‘Make in India’ brand and contribute to the growth of home-grown companies. Sectors that are associated with satellite systems, telecommunications, both software and hardware will see a boost.[caption id="attachment_13034752" align="alignnone" width="640"] A school teacher films the live telecast of the successful landing of spacecraft Chandrayaan-3 on the moon, in a school in Guwahati. AP[/caption]Stock market skyrocketsThe success of Chandrayaan-3 also reflected on India’s share markets. Shortly after the success of the mission, shares of 13 space-sector companies, including PTC Industries Ltd, Zen Technologies Ltd and Centum Electronics Ltd, rallied and added more than $2.5 billion in market value, reported Bloomberg.Livemint reporting the same shared that Linde India’s share jumped 23 per cent this week and closed at Rs 5,923 on Wednesday. Similarly, Centum Electronics, which provided some critical modules and systems to the Chandrayaan-3 mission, saw shares rising by 11 per cent. Shares of Avantel, a satellite communication provider, also jumped more than 12 per cent this week.The aerospace wing of Larsen & Toubro (L&T), Hindustan Aeronautics (HAL), and Godrej Companies – all played a crucial role in the Chandrayaan-3 mission – also saw their stocks rise on Thursday morning.

---

Catch up on all the Chandrayaan-3 related storiesHow Chandrayaan-3 will leave an imprint of the national emblem on the MoonWhy Chandrayaan-3's success matters to the United StatesWhat will the lander and rover do after landing on Moon?Chandrayaan-3 costs lesser than big films: How India keeps its space missions frugalOver the Moon: Meet the team behind India’s Chandrayaan-3

---

Sonam Srivastava, smallcase manager and Founder of Wright Research told BusinessToday, ““The national pride and euphoria accompanying a successful landing could positively influence market sentiment, potentially giving a boost to stock prices. However, it’s crucial for investors and market watchers to be pragmatic.”Touching everyday livesApart from the economic boost that India will see, the Chandrayaan-3 mission also will also have everyday benefits to the common man. It will unlock the Moon’s many secrets such as a better understanding of lunar water.According to Union minister of state for science Jitendra Singh, the Chandrayaan-3 will also search for resources that could sustain life on Moon.Minister Singh emphasised the scientific opportunities that could arise if Chandrayaan-3 discovers more evidence of water, as water molecules contain hydrogen and oxygen, offering a rich source of clean energy on the Moon. These findings could significantly impact future space missions and open doors to space entrepreneurship through startup ventures.With inputs from agencies