Chandrayaan-3: Soft Landing On Moon's South Pole Marks India's Role In Global Equity Portfolios, MSCI explains

India has successfully and smoothly landed on the lunar south pole, becoming the first country to achieve this milestone globally. Also, India became the fourth country in the world to touch the moon after the United States, Russia, and China. This not only means a significant achievement for the country but also marks India's expanding role in a multipolar world and its increasing prominence in global equity portfolios.

Raman Subramanian, Managing Director and Rohit Gupta, Vice President at MSCI Research in their note said, "India has achieved a significant milestone by becoming the first country to successfully land on the moon's south pole. Beyond the symbolic nature of this feat, it underscores India's shift towards technology-driven innovation, leveraging its large technical labour force. Furthermore, it could also mark India's expanding role in a multipolar world and its increasing prominence in global equity portfolios."

The duo explained that though India is the presiding nation of the G20, the country steers its course through a tumultuous global environment marked by the Russia-Ukraine war and the lingering effects of the COVID-19 pandemic.

While India has been a steadfast member of Brazil, Russia, India, China and South Africa (BRICS) emerging economies, it now plays a pivotal role in bridging influential economic assemblies like the G7 and G20, they added.

They also cited IMF's recent projections that have indicated that India by 2027, is poised to surpass stalwarts like Japan and Germany, becoming the world's third-largest economy.

Hence, MSCI heads said, "Investors have taken note of India's rise, spotlighting the country as a pivotal player in emerging-market equities."

On the back of top-line growth and a widening market breadth, India's stake in the MSCI Emerging Markets Index has soared to a high of 15%.

"The persistence of this trend may hinge upon India's domestic consumption patterns and whether it continues as a manufacturing hub," the duo said.

Indian markets have reacted to the successful landing of Chandrayaan-3 will a broad-based bullish tone. Nifty 50 traded at 321.49, higher by 97.65 points or 0.5%. At the time of writing, Sensex traded at 65,754.79 up by 321.49 points or 0.49%. Banking, capital goods, consumer durables, metals and IT stocks were top performers.

The primary objectives of the Chandrayaan-3 mission are threefold, (a) to demonstrate a Safe and Soft Landing on the Lunar Surface; (b) to demonstrate Rover roving on the moon, and (c) to conduct in-situ scientific experiments, as per the Department of Space.

The approved cost for Chandrayaan-3 was Rs 250 crore excluding launch vehicle cost.

Chandrayaan-3 spacecraft was successfully launched onboard LVM-3 on July 14, 2023, at 14:35 hrs from the Satish Dhawan Space Centre, SHAR.

ISRO confirmed on August 23 that Chandrayaan-3 has successfully soft-landed on the moon. It said, "The Ch-3 Rover ramped down from the Lander and India took a walk on the moon."

This milestone is not just sentimental but a proud moment for India.

Prime Minister Narendra Modi said that Chandrayaan-3's triumph mirrors the aspirations and capabilities of 140 crore Indians.