Chandrayaan-3’s success to boost Indian space sector credibility: INSPACe chairman

The Indian space sector will be looked upon with a lot more respect and reliability after Chandrayaan 3’s success, said Chairman of INSPACe, Pawan K Goenka. He further stated that based on ISRO’s achievement with the third Moon mission, private companies in the Indian space sector will be motivated to come up with more initiatives and even the investor community will look at opportunities in Indian spacetech ventures with eagerness.

#WATCH | Bengaluru: Chairman of INSPACe, Pawan K Goenka, says, "Let me now talk about what this successful launch really translates to in terms of what it means to India...The whole country was rooting for ISRO and the successful landing of Vikram...The overall credibility of… pic.twitter.com/NcUvtnP7eS

— ANI (@ANI) August 24, 2023

Chandrayaan 3’s benefits to the Indian space sector

‘Credibility of Indian space expertise has gone up’
The Chandrayaan-3 triumph has enhanced the way the world looks at the Indian space sector, said Goenka. "Let me now talk about what this successful launch really translates into in terms of what it means to India...The whole country was rooting for ISRO and the successful landing of Vikram...The overall credibility of Indian space expertise has gone up a notch in the global eyes," Goenka added.

Achievements despite ‘shoestring budgets’
The world will also acknowledge that a lot can be achieved despite economic constraints, said the INSPACe chairman. “Everybody looks at India with respect now on what India can achieve with a shoestring budget. It has been well-known that we could do things at a fraction of a cost than other countries spent on similar projects,” the INSPACe chairman noted. 

Motivation for private space tech companies
“The private sector that is just emerging in India in terms of doing independent space activities, technology development with startups and we have come up with about 150-200 startups in about a year and a half and even established companies and even vendors who are now moving up the value chain doing new technology development. They will be highly motivated to see the success of Chandrayaan-3 and do a lot more in getting into the area of space technology," said INSPACe’s Pawan Goenka.

The investor community would show more interest 
The Indian space sector companies will be seen with more interest than before, said Goenka, adding, “The investor community would get quite comfortable with the Indian space sector going forward. Of course, this was scientific exploration. The investor community would be looking at a more commercial opportunity. As a rub-off of the Chandrayaan-3 success, the commercial opportunity will get a lot more visibility.”

Chandrayaan-3 success

After a 40-day journey into the space, the Vikram lander touched down on the lunar South Pole on Wednesday evening (August 23), making India the fourth nation after the US, Russia and China to successfully conduct a lunar landing mission. 

The Chandrayaan-3 spacecraft put down the Vikram lander on the lunar surface, tilting to a horizontal position ahead of landing. The spacecraft was launched from the Satish Dhawan Space Centre in Andhra Pradesh’s Sriharikota on July 14.