India’s land on the moon: Unveiling the political and economic benefits
India recently gained global attention with its lunar feat when the Chandrayaan-3 spacecraft landed on the moon’s uncharted territory.
Subsequently, questions about the motivations behind substantial investments in space endeavours have been raised. Why do governments invest in space activity? And does it produce enough benefits beyond the news and buzz around its success?
Surprisingly, entering the realm of space exploration is becoming more affordable, especially for nations with their launch capabilities, as exemplified by Chandrayaan-3's relatively modest budget, US$70 m believed to rival the lowest-cost lunar missions in the US.
This cost reduction has led to a surge of interest in space presence, with India boasting over 140 commercial space companies, registered with the Indian Ministry of Corporate Affairs, attracting a doubling rate of investment, totalling $120 million annually.
A researcher in the space field, Christopher Newman has some insights into this.
The Professor of Space Law and Policy at Northumbria University delves into possible advantages that come with investing in space presence and technology in an article he publishes in The Conversation.
Jobs and development
Beyond the headlines, Chandrayaan-3's success promises tangible benefits, such as high-skilled job creation and technological innovation with applications in various industries.
Space exploration can drive technological advancements, much like the US Apollo program did.
More high-skilled jobs will be created where technical workers, support and administrative roles will be required.
This not only fosters economic growth but also promotes international collaboration and diplomacy, as countries come together to share expertise and technology.
Enhancing diplomatic relations
India for instance has already close collaborative ties with the US. This feat of the Chandrayaan-3 mission will not only help develop these ties but will illustrate the value of India signing the Artemis Accords which demonstrates the value of international cooperation in expanding space exploration.
However, space achievements can be cut both ways in terms of prestige, as seen in Russia's recent lunar mission failure with the Luna 25.
Meanwhile, India's ascent in the space arena cannot escape the watchful eyes of its neighbours, Pakistan and China, who view it as competition and a potential threat. India's growing presence on the world stage raises questions about its global image, particularly as a counterbalance to China, and the economic and diplomatic implications this entails.
Chandrayaan-3's triumph showcases India's growing role in the global space exploration landscape, with political, economic, and diplomatic implications that extend far beyond a mere headline. As nations seek to boost their domestic and international standing, space exploration offers a unique avenue for achieving these goals, underpinned by sustainable economic foundations.
