Chandrayaan 3: How this historic win will benefit Indian Economy?

As Chandrayaan-3 of the Indian Space Research Organisation (Isro) captured the Moon, it was a historic day for the nation.

Read More : PM Modi to Commend Chandrayaan-3 Mission’s Historic Lunar Landing

In addition to raising the nation's pride, the accomplishment has created a wave of opportunities for a number of industries that may help India realise its goal of being the third-largest economy in the world.

Our Country already has space tech startups, approximately around 140 and this historic win of moon mission is likely to provide these startups a huge boost.

In fact, according to Mukesh Kochar, National Head of Wealth Management, AUM Capital, it can solidify India's status as a competitive satellite launcher, boosting industries like aerospace and defence.

India's Significant contribution to Economy

"It is one of India's key turning points. India presently contributes about 2-3% to the global space economy, and in the next 8–10 years, it is anticipated to contribute about 8–10%.

India will become known as a reliable satellite launcher as a result, and a global opportunity could arise. Defence and aerospace industries will benefit, according to Kochar.

In India, there are numerous  registered space startups. These businesses should attract a lot of investment given the success of this amazing journey. The fiscal allowance will also need to be increased, according to future forecasts. Overall, he said, this will benefit the Indian economy.

The event of today will launch India's space economy to the next orbit, he continued, serving as a perfect example of focused perseverance, economic innovation, and sovereignty in new and developing tech.

Kartik Ganapathy, founding partner of INDUSLAW, asserts that India's inclusion on the list of spacefaring countries has been solidified by Chandrayaan-3's landing on the Moon.

Increased confidence on Indian Businesses

The landing demonstrates India's in-house technological prowess and gives its scientific temperament fresh life. We anticipate that after the moon landing, there would be increased interest in Indian businesses engaged in space-related activities, such as exploration, component manufacture, navigation and mapping, observational data, and other related tasks, added the official.

The new Indian Space Policy 2023, he continued, is a signal to the Indian sector that their participation in the nation's plans for space exploration is "now being actively sought."

This contrasted with the accomplishments of the Chandrayaan-3 mission and the Moon landing are pleasant signals of what is hopefully a favourable upsurge in India's space sector and related sectors, he continued.

Impact on Stock Market

According to experts, the success of Chandrayaan-3 would have a significant long-term impact on Indian domestic markets since it will impact how foreign investors view India's capacity for space research.

According to Swapnil Shah, Director - Research, StoxBox, Chandrayaan-3's success is unquestionably a matter of national pride and is likely to have an impact not only on domestic market sentiment but also on how foreign investors view India's capacity for space research and the efficacy of various initiatives like Make in India and Atmanirbhar Bharat.

He continued by saying that the mission's success would benefit a number of related industries, including aerospace, defence, and telecommunications (satellite communication and navigation), as well as publicly listed companies including L&T, HAL, and MTAR Technologies.

'Make in India' will benefit from Chandrayaan-3.

Experts predict that the success of Isro's Moon mission would strengthen the 'Make in India' brand and encourage the growth of indigenous companies producing satellite systems, telecommunications, and other technology.

The achievement of Chandrayaan-3 is a cause for celebration because it will help to build the "Make in India" brand and improve the reputation of "Made in India." According to Kaushik Dani, Fund Manager PMS at Abans Investment Managers, businesses such as satellite systems, telecommunications, and related software and hardware should have a better chance.

He went on to say that companies involved in the designing, assembling, and testing of equipment, particularly for space exploration technology, would fall under this category.

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