Isro’s Chandrayaan: The Indian Space Research Organisation (ISRO) is gearing up for the launch of its ambitious chandrayaan-3 mission on july 14 . This upcoming lunar exploration mission holds significant promise for the Indian economy.
As India gives its ambitious moon mission another shot, the spotlight is once again on its potential to propel the space sector and drive economic growth. However, before delving into the economic benefits, it is crucial to grasp the significance of missions like Chandrayaan-3.
Pawan Chandana, Co-Founder and CEO of Skyroot Aerospace, a leading domestic aerospace company credited with launching India’s first privately developed rocket, told India Today.in that Chandrayaan-III, once successful, could take India to the top league along with the US, Russia, and China “Chandrayaan-III is a major step in India joining the elite club as the fourth country to successfully accomplish a moon landing,” Chandana said.
Isro’s Chandrayaan: India’s latest space mission is a testament to the country’s remarkable progress in space exploration and technology. Six decades after its first rocket launch, India now has a surer footing in the field of space exploration and technology.
Today, India’s private space-tech ecosystem is beaming with a vast horizon of opportunities, thanks to a new generation of entrepreneurs like Chandana. Just a couple of years ago, India’s space economy was valued at over $9.6 billion in 2020. By 2025, this could go up to $13 billion, according to EY India. At present, the country has over 140 registered space-tech startups, including Skyroot, SatSure, Dhruva Space, and Bellatrix, who are working towards creating technologies that have real-world utilities – from satellite-based phone signals, broadband, OTT, and 5G to the operation of solar farms and much more.
