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<ul><li>Whether reaching the moon's surface or financial milestones, both arise from a balanced combination of preparation, and the willingness to pursue long-term goals. </li><li>Just like it was done for Chandrayaan-3 it is important to plan for contingencies and set up risk mitigating measures. </li><li>Chandrayaan-3 demonstrates that success often requires weathering challenges and staying the course. </li></ul>All of India rejoiced when Chandrayaan-3 made a <a href="https://www.businessinsider.in/science/news/india-becomes-4th-country-to-land-on-moon-chandrayaan-3-first-to-land-on-moons-south-pole/articleshow/102987778.cms">successful landing </a>on the moon’s South Pole on August 23 at 6.04 pm IST. Not only did this feat make Indians proud, <a href="https://www.businessinsider.in/science/space/webstories/from-musk-to-adani-to-sachin-to-srk-congratulations-pour-in-for-isros-chandrayaan-3-feat/slidelist/103016187.cms">congratulations poured in</a> for this remarkable feat from all corners of the world. Like from major scientific achievements, there are lessons for the common man from this extraordinary accomplishment. We take a look: <cmsannotation type="cmsannotation" annotationid="Be prepared to play a long time game" text="Be prepared to play a long time game">Be prepared to play a long time game</cmsannotation> The success of the <keyword id="15331763" type="General" weightage="20" keywordseo="chandrayaan-3-mission" source="Orion">Chandrayaan-3 mission</keyword> serves as a significant milestone in India's space exploration and highlights the value of a long-term approach. Chandrayaan 1, India’s first moon mission was the result of decades of hard work by the Indian Space Research Organisation (ISRO) scientists. Similarly, in personal finance, successful wealth creation often hinges on sustained efforts and patient investment strategies. The mission's journey echoes the slow yet rewarding process of accumulating wealth over time. Building financial security and prosperity requires disciplined, consistent efforts. Investors should recognize that the path to financial success is paved with prudent, long-term decision-making and a dedication to their goals. <cmsannotation type="cmsannotation" annotationid="Persistence is key" text="Persistence is key">Persistence is key</cmsannotation> Chandrayaan-3's role in India's space trajectory is symbolic of the value of a patient, long-term approach. Likewise, the world of finance teaches us that substantial wealth is created through consistent, disciplined investing over time. Just as the mission's trajectory unfolded gradually to reach its destination, investors should recognize that financial success is achieved by navigating a path of prudent decisions, commitment, and a focus on long-term objectives. Chandrayaan-3 demonstrates that success often requires weathering challenges and staying the course, just as successful wealth accumulation requires the stamina to ride out market fluctuations and maintain a commitment to strategic investments. Both journeys share the same principle: achievements, whether reaching the moon's surface or financial milestones, arise from a balanced combination of preparation, dedication, and the willingness to pursue long-term goals. <cmsannotation type="cmsannotation" annotationid="Be ready for contingencies" comment="subhead" text="Be ready for contingencies">Be ready for contingencies</cmsannotation> ISRO adopted a 'failure-based design' strategy, prioritising scenarios of potential failure to safeguard the mission against challenges and secure a successful and safe landing. “We have also made sure that if two of the engines don’t work this time also, it will still be able to land. So the whole design has been made to make sure that it should be able to handle many failures, provided the algorithms work properly,” said ISRO chairman S Somanath. Similarly, when it comes to your personal finances it is important to plan for possible contingencies and set up risk mitigating measures in place. There are two important things you need to do to be prepared for an emergency situation. The first is to create an emergency fund, which essentially entails keeping six months of your expenses in liquid form, so that you can use it in case of job loss or need of funds in an emergency. The other is to have adequate health cover so that you are protected in an event of hospitalisation, which could set you back by several lakhs. FInally, life insurance, which protects your family in case of an eventuality is also important. <cmsannotation type="cmsannotation" annotationid="Harness the power of compounding" text="Harness the power of compounding">Harness the power of compounding</cmsannotation> Chandrayaan-3 did not reach the moon in the same way as spacecrafts from other nations like the US and Russia have done. Instead it utilised the Oberth effect by initially circling Earth in an elliptical orbit. As it gained velocity at its closest point, this energy was harnessed to propel the spacecraft to the moon's orbit effectively. The Oberth effect is a principle in space travel where the efficiency of a propulsion system increases with higher speed in a gravitational field. Chandrayaan-3 thus used the power of gravity to reach the moon in a cost effective and efficient manner. The Oberth effect can be likened to the compound interest. In the same way, the power of compounding plays a big role in wealth accumulation. When you earn interest on both the initial principal and the accumulated interest, your wealth grows exponentially over time. This compounding effect leads to accelerated growth, as the interest you earn generates more interest. <cmsannotation type="cmsannotation" annotationid="Manage your risks when nearing retirement" text="Manage your risks when nearing retirement">Manage your risks when nearing retirement</cmsannotation> Soft landing, a pivotal but challenging aspect of moon missions, draws a parallel to retirement planning's necessity for stability. Chandrayaan-3's advanced landing gears point to the significance of minimising volatility during crucial phases. Just as the spacecraft's landing gears were enhanced to absorb shock loads, individuals nearing retirement should focus on preserving their savings. Prioritising capital preservation over aggressive growth becomes vital to ensure financial security during retirement years. As retirement nears, a balanced allocation between stable options like debt and a gradual reduction in equity exposure can minimise financial shocks.

Five personal finance lessons to learn from ISRO’s Chandrayaan-3 mission

<ul><li>The government has announced a new program for <keyword id="3588883" type="PERSON" weightage="20" keywordseo="space-startups">space startups</keyword> and MSMEs called Space Enterprise Encouragement and Development (SEED). </li><li>India’s Department of Space will also be releasing a list of space technology products and services for the private sector to develop. </li><li>The announcement comes after ISRO announced three challenges under the <keyword id="2746648" type="PERSON" weightage="20" keywordseo="Atal-Innovation-Mission">Atal Innovation Mission</keyword>’s ARISE program yesterday, for which a team of experts is already reviewing more than 200 ‘good proposals’. </li></ul>The government recently opened up India’s space sector to private players and despite the Indian Space Research Organisation’s (ISRO) reluctance in the past, the space agency is now doubling down on startups and MSMEs to create space technology for the future. After announcing three new challenges — propulsion, geospatial information, and robotics/AR/VR — under the <a href="https://www.businessinsider.in/business/startups/news/india-launches-15-challenges-for-indian-startups-and-msmes-to-solve-for-a-grant-of-50-lakh-each/articleshow/78011599.cms">Atal Innovation Mission ARISE program yesterday</a>, <keyword id="6448588" type="UNKNOWN" weightage="20" keywordseo="isro-chairman">ISRO chairman</keyword> and Department of Space (DoS) secretary claimed that over 200 proposals are already under review with experts. “Similar announcements of opportunities will be made for our future programs, including planetary missions,” said Sivan calling the private sector a ‘co-traveller’ in space endeavours, indicating that more challenges are on the horizon during an ISRO <a href="https://www.youtube.com/watch?v=FMmegTVE05M">workshop</a> today. One of these programs is SEED — Space Enterprise Encouragement and Development. “SEED is envisaged as a competitive early-stage encouragement program for innovative small business concerns or startups interested in products or services in focus areas of space technology, “ described Sivan. The Department of Space (DoS) also has plans of compiling a list of potential products and services in space technology and application that can be developed by the industry, in addition to expanding their existing network of incubation programs. “The mechanism for technical mentorship from DoS has also been initiated,” said Sivan.

ISRO doubles down on startups and MSME for space technology — launches SEED program and reviews over 200 applications under ARISE mission

<ul><li>India just tested is anti-satellite weapon (ASAT) by taking down a live satellite in low earth orbit. </li><li>While this may make India a 'space power', it weakens its fight against dangerous space debris.</li><li>In the past, Russian satellites have been destroyed by space debris that was left behind by China's testing of its ASAT.</li></ul>India’s prime minister, Narendra Modi, just announced the successful test of India’s anti-satellite weapon (ASAT). In his address to the nation, where he highlighted India’s entry to the club of the world’s space powers — he left out any mention of the resulting space debris. 
	
	
	
	
	
	
	<div type="twitter" handle="narendramodi" handlename="Chowkidar Narendra Modi" image="http://pbs.twimg.com/profile_images/718314968102367232/ypY1GPCQ_normal.jpg" favoritecount="30875" retweetcount="10983" status="In the journey of every nation there are moments that bring utmost pride and have a historic impact on generations… https://t.co/nrGnTyDXdh" createdat="1553670539000" id="1110800868058660864"></div>















 And, while this gambit adds India to the list of the select few nations to have done so successfully, it’s out of place with India’s role as a member of the Inter-Agency Space Debris Coordination Committee (IADC). 
 
 
 
 
 
 
 <div type="ExtQuote" text="&quot;A similar test by China in 2007 has left behind a lot of debris which is still floating around.&quot;" auname="Ajay Lele, Senior Fellow with the Institute for Defence Studies and Analyses (IDSA)"></div>















 As a member of IADC, such a test by India could undermine the country’s credibility in the arena. India is also a signatory of the Outer Space Treaty which prohibits the use of weapons in space and requires nations to take steps to mitigate space debris. With respect to the first part Kumar Abhijeet, a member of the International Institute of Space Law (IISL) clarifies, "If we look up the international treaty. Nowhere is ASAT testing prohibited. We are very much within the international laws to make use of it." But, in cases where space debris is created, nations are under the obligation to pay compensation for any damages that arise from it. 
 
 
 
 <div type="ExtQuote" text="We are well within the norms, but if at all there any debris that has been created, since we are a part of international treaties, we owe the liability as well." auname="Kumar Abhijeet, Member of the International Institute of Space Law and Research Scholar at the Institute of Air and Space Law"></div>









 When China <a href="https://swfound.org/media/9550/chinese_asat_fact_sheet_updated_2012.pdf">tested</a> its ASAT capabilities back in 2007, the test left behind 2,500 to 3,000 pieces of dangerous space debris in Earth’s low earth orbit (LEO). And despite never ending perception of space, debris in that particular region is a threat to other satellites. A Russian satellite was one such <a href="https://www.space.com/20138-russian-satellite-chinese-space-junk.html">victim</a> in 2013, when a piece of space debris struck the body of the satellite, destroying it. And, the question is not solely about space debris destroying other satellites. It's also about how space debris can result in more space debris as it knocks into older objects left behind in space. The true danger is that some of these pieces of debris are so small that it's nearly impossible to track them. Unlike China, where the test was conducted at an altitude of 800 km, India's ASAT test was conducted only 300 km above the Earth where the probability of space debris is unlikely. 
 
 
 
 
 
 
 <div type="ExtQuote" text="Debris also depends on where we’re doing the test. In China’s case, they did it at 800kms — we’ve conducted ours at 300kms. The debris will most likely burn up in the atmosphere. So there is minimum chance of debris being created." auname="Kumar Abhijeet, Member of the International Institute of Space Law and Research Scholar at the Institute of Air and Space Law"></div>













 'Operation Burn Frost' was conducted in a similar manner at an altitude of 240km. Even then, while most of the debris managed to fall back to Earth within a year, a few pieces were still blasted to a higher orbit. To prove it’s military might in space, India had the option of <a href="https://defenceupdate.in/space-war-indias-anti-satellite-weapons/">conducting</a> a fly-by test where, instead of destroying a live satellite, the missile would just glide past. A former Integrated Defence Staff Lieutenant General, HS Lidder, saw this coming when he <a href="http://www.nbcnews.com/id/25216230/ns/technology_and_science-space/t/indian-army-wants-military-space-program/">said</a>, “With time, we will get sucked into the military race to protect space assets and inevitably there will be a military contest in space. In a life and death scenario, space will provide the advantage.” See also: <a href="https://www.businessinsider.in/prime-minister-modi-in-his-live-address-says-indian-scientists-shot-down-a-low-orbit-satellite-300-km-away-in-space/articleshow/68593276.cms">Indian enters an elite space club after scientists shoot down a low orbit satellite 300 km away in space, says Prime Minister Modi</a> <a href="https://www.businessinsider.in/isro-is-to-trying-to-beat-elon-musks-spacex-success/articleshow/67550362.cms">India’s apex space agency is following Elon Musk's idea — and taking it a step forward</a> <a href="https://www.businessinsider.in/isro-nasa-just-spotted-a-black-hole-spinning-so-fast-that-it-could-be-making-space-itself-rotate/articleshow/66416605.cms">ISRO, NASA just spotted a black hole spinning so fast that it could be making space itself rotate</a>

India's test of its anti-satellite weapon may have weakened its fight against dangerous space debris

The Luxembourg-based <keyword id="9920040" type="UNKNOWN" weightage="20" keywordseo="kleos-space">Kleos Space</keyword>, a space-powered Radio Frequency Reconnaissance data-as-a-service (DaaS) company on Friday said its Kleos Scouting Mission satellites are expected to be launched during the first half of November 2020 by Indian rocket PSLV. "The Company has been informed (by NSIL via Spaceflight Inc.) that the launch of the four Kleos satellites planned on-board PSLV-C49 mission is being targeted during the 1st half of November 2020, based on the current status of planning of activities. This schedule is subject to change due to operational circumstances beyond NSIL control," Kleos Space said. "The rocket launch is done by ISRO (<keyword id="116095" type="ORGANIZATION" weightage="20" keywordseo="Indian-Space-Research-Organisation">Indian Space Research Organisation</keyword>). We are facilitating commercial launches," G. Narayanan, Chairman and Managing Director, NewSpace India Limited (NSIL) told IANS. The NSIL is a commercial space company under Department of Space (DOS). According to Narayanan, the actual launch date of the rocket <keyword id="622933" type="COMPANY" weightage="20" keywordseo="Polar-Satellite-Launch-Vehicle">Polar Satellite Launch Vehicle</keyword> (PSLV C49) will be finalised ISRO. Kleos said it is launching the scouting satellites under a rideshare contract with Spaceflight Inc, with the launch managed by NSIL. The Kleos Scouting Mission's four satellites have been mission-ready since the middle of 2019, and were shipped to the launch site (Sriharikota in Andhra Pradesh) during February, anticipating the launch during March. Delay to the launch from March has been due to the prevailing Covid-19 pandemic situation, Kleos said. "In due course, NSIL via Spaceflight Inc. will confirm the exact launch date once the activities at the launch base progress successfully," Kleos said. SEE ALSO: <a href="https://www.businessinsider.in/science/space/news/isro-doubles-down-on-startups-and-msme-for-space-technology-launches-seed-program-and-reviews-over-200-applications-under-arise-mission/articleshow/78037431.cms">ISRO doubles down on startups and MSME for space technology — launches SEED program and reviews over 200 applications under ARISE mission</a> <a href="https://www.businessinsider.in/science/space/news/isro-wholeheartedly-invites-the-private-sector-to-make-india-a-global-technology-powerhouse/articleshow/76618927.cms">ISRO 'wholeheartedly' invites the private sector to make India a 'global technology powerhouse'</a> <a href="https://www.businessinsider.in/science/space/news/isro-may-quietly-gain-a-cost-advantage-despite-the-delay-in-gaganyaan-and-chandrayaan-3-says-an-expert/articleshow/75546034.cms">ISRO may quietly gain a cost advantage despite the delay in Gaganyaan and Chandrayaan 3, says an expert</a>

ISRO may launch four Kleos Space satellites in November — ending COVID-19 hiatus

<keyword id="6360409" type="UNKNOWN" weightage="20" keywordseo="Nasa">NASA</keyword> is looking for private companies from around the world that can grab lunar dirt and rocks, setting off the process of creating a new marketplace for space resources. Outlining its goal, the <keyword id="106731" type="ORGANIZATION" weightage="20" keywordseo="US-space-agency">US space agency</keyword> has said that it aims to complete the retrieval and transfer of ownership of the resources before 2024. NASA has set the goal of landing the first American woman and next man on the Moon by 2024. And it is not just one company that the US space agency is looking to purchase lunar resources from. "The solicitation creates a full and open competition, not limited to US companies, and the agency may make one or more awards," <keyword id="1901198" type="PERSON" weightage="20" keywordseo="NASA-administrator">NASA Administrator</keyword> <keyword id="4956577" type="PERSON" weightage="20" keywordseo="Jim-Bridenstine">Jim Bridenstine</keyword> wrote in a blog post on Thursday. As per the requirements outlined by NASA, a company will collect a small amount of Moon "dirt" or rocks from any location on the lunar surface, provide imagery to the agency of the collection and the collected material, along with data that identifies the collection location. They will then have to conduct an "in-place" transfer of ownership of the lunar regolith or rocks to NASA. After ownership transfer, the collected material will become the sole property of NASA for its use. "NASA's payment is exclusively for the lunar regolith, with any awardee receiving 10 percent at award, 10 per cent upon launch, and the remaining 80 per cent upon successful completion," Bridenstine said, adding that the agency will determine retrieval methods for the transferred lunar regolith at a later date. According to a report in The Verge, NASA is ready to pay between $15,000 and $25,000 for the resources. The amount appears to be quite meagre considering the cost required to send a spacecraft to the Moon, but the idea here is to start the process of creating a lunar marketplace, said the report. Industry group Commercial Spaceflight Federation has welcomed NASA's decision. "We applaud @NASA's announcement to buy extracted lunar resources from commercial as another step towards a sustainable return to the Moon," the federation said in a tweet on Thursday. The NASA Administrator said that when considering such proposals to buy lunar resources from private companies, the agency will require that "all actions be taken in a transparent fashion, in full compliance with the Registration Convention, Article II and other provisions of the Outer Space Treaty, and all of our other international obligations." "We are putting our policies into practice to fuel a new era of exploration and discovery that will benefit all of humanity," Bridenstine said. SEE ALSO: <a href="https://www.businessinsider.in/science/space/news/isro-doubles-down-on-startups-and-msme-for-space-technology-launches-seed-program-and-reviews-over-200-applications-under-arise-mission/articleshow/78037431.cms">ISRO doubles down on startups and MSME for space technology — launches SEED program and reviews over 200 applications under ARISE mission</a> <a href="https://www.businessinsider.in/science/space/news/isro-wholeheartedly-invites-the-private-sector-to-make-india-a-global-technology-powerhouse/articleshow/76618927.cms">ISRO 'wholeheartedly' invites the private sector to make India a 'global technology powerhouse'</a> <a href="https://www.businessinsider.in/science/space/news/isro-may-quietly-gain-a-cost-advantage-despite-the-delay-in-gaganyaan-and-chandrayaan-3-says-an-expert/articleshow/75546034.cms">ISRO may quietly gain a cost advantage despite the delay in Gaganyaan and Chandrayaan 3, says an expert</a>

NASA wants to create a marketplace to buy and sell lunar dirt from private companies

<ul><li>The Ordinance seeks amendments to the 125-year-old <keyword id="552772" type="PERSON" weightage="20" keywordseo="Epidemic-Diseases-Act">Epidemic Diseases Act</keyword>, 1897, that protects health workers in the country. </li><li>The Indian government in April approved an ordinance that recognised any crime against health workers in India as a “cognizable and non-bailable” offence. </li><li>It means that offenders can be arrested without a warrant, and no bail will be granted. </li></ul>The Indian government is preparing to introduce over 20 bills for discussion in the monsoon session of the Parliament, which is slated to begin on September 14. Moreover, 11 ordinances will also have to be passed during the session, as most of them face an expiration date by the winter. Among the ordinances to be discussed is Epidemic Diseases (Amendment) Ordinance 2020. The Ordinance seeks amendments to the 125-years-old Epidemic Diseases Act, 1897, that protects health workers in the country. What is the Epidemic Diseases (Amendment) Ordinance 2020? The Indian government in April approved an ordinance that recognised any crime against health workers in India as a “cognizable and non-bailable” offence. It means that offenders can be arrested without a warrant, and no bail would be granted. Offenders can also be fined anywhere between ₹50,000 to ₹2 lakh and will also have to serve a prison term between 3 months to five years, Union Minister Prakash Javadekar had said in April. Moreover, people who damage the vehicles of healthcare workers or clinics will have to compensate by paying twice the value of the damaged property. These cases will be fast-tracked. An investigation against such cases will take place within 30 days, and a decision will be announced within a year. Why the need to amend the Epidemic Diseases Act 1987 now? The Epidemic Diseases Act is a century-old law enacted when Bombay (Mumbai) was hit by Bubonic plague. Over the years, it has been used to prevent the spread of epidemics including H1N1 influenza in 2009, Cholera in 2018 etc. Ever since the pandemic began, several <a href="https://www.businessinsider.in/politics/india/news/indian-doctors-attacked-abused-assaulted-while-fighting-coronavirus/articleshow/74961776.cms">incidences of abusive behaviour</a> against the doctors came to light. People were said to be pelting stones and attacking health workers. At some places, a mob tried to stop a medical team from taking a <keyword id="1754604" type="PERSON" weightage="20" keywordseo="coronavirus">coronavirus</keyword> infected man into isolation. The Indian government then said that it will not tolerate any incident of violence or harassment against the doctors. Since the amendments were made in April and is applicable during the pandemic only Several experts have lauded the ordinance and<a href="https://indianexpress.com/article/opinion/columns/covid-19-pandemic-coronavirus-ima-indian-medical-association-ordinance-ensuring-doctors-safety-6380562/"> asked</a> the government to extend the ordinance to post-COVID period as well. “The ordinance has been brought as an amendment to the Epidemic Diseases Act, 1897, and hence, may become infructuous after the pandemic is declared over. We do hope that the pandemic dies down at the earliest, but want an assurance that the ordinance will remain in force,” <a href="https://indianexpress.com/article/opinion/columns/covid-19-pandemic-coronavirus-ima-indian-medical-association-ordinance-ensuring-doctors-safety-6380562/">Dr S K Sarin, Director, Institute of Liver and Biliary Sciences wrote. </a> SEE ALSO: <a href="https://www.businessinsider.in/science/space/news/isro-doubles-down-on-startups-and-msme-for-space-technology-launches-seed-program-and-reviews-over-200-applications-under-arise-mission/articleshow/78037431.cms">ISRO doubles down on startups and MSME for space technology — launches SEED program and reviews over 200 applications under ARISE mission</a>

What is the Epidemic Diseases (Amendment) Ordinance — key provisions up for Parliament's consideration

With the creation of the Indian National Committee for Space Research (now ISRO) in 1962, India has been an active patron to mankind’s space efforts. From Aryabhata to Chandrayaan-2, India has launched 113 satellites, including the <keyword id="6374683" type="UNKNOWN" weightage="20" keywordseo="First">first</keyword> privately built and funded satellite ExceedSat-1 which was launched from USA, as a part of <keyword id="6355315" type="PERSON" weightage="20" keywordseo="elon-musk">Elon Musk</keyword>’s Space X project Falcon-9. Up until 2016, India’s space activities have been the exclusive domain of the State, however, the launch of the <keyword id="4835931" type="PERSON" weightage="20" keywordseo="IRNSS-1H">IRNSS-1H</keyword> in 2017 was the herald of a new era in India’s Space endeavours. The IRNSS-1H marked the beginning of privatisation in this area by being the first Indian satellite, to be designed in collaboration with the private parties. In the following year, the ExseedSat-1 was to become the first privately funded and built satellite launched in collaboration with the private Space X project. Interestingly, up until now, all missions have been conducted for purposes of research, reconnaissance as well as for augmenting communication systems since there was a substantial State monopoly. With the recent announcement of the creation of the Indian National Space Promotion and Authorization Centre or IN-SPACe by the Government of India as part of its atma nirbhar Bharat scheme, which aims at providing a “level playing field” and a supportive regulatory regime to allow Indian private enterprises to grow and carve their own niche in the so-called “fast-growing global space sector”, India has in fact shown an inclination to capitalise on the US strategy of opening up the avidly touted space “sector” to private participation. While the initiative sounds exhilarating and will definitely go a long way in defining India’s image as an emerging global technology powerhouse, it is extremely difficult to fathom why private players, would be willing to readily come forward and invest billions, by confining their activities for research purposes alone, without any expectation of commercial gains or simply, return on their investment. This is so because, matters concerning space and space exploration are subject of a special branch of customary international law, that are mainly centred around five treaties and eleven agreements. The most significant of these is the Treaty on Principles Governing the Activities of States in the Exploration and Use of Outer Space, including the Moon and Other Celestial Bodies or the Outer Space Treaty (OST) which India ratified in 1967, and which specifically lays down under Article I that outer space and space exploration including that on the moon and other celestial bodies, are to be carried out solely for, and in the interest of all countries, and that they are the province of all mankind. Article II restricts claims of sovereignty and national appropriation by any means whatsoever, Article VI places international responsibility on all activities carried on by governmental or by non-governmental entities, as well as mandates authorization and continuing supervision by the appropriate State Party. While there is considerable debate surrounding the applicability of the OST especially Article VI to private parties, since the US Supreme Court ‘s ruling in Medellin v Texas (2008) which held that Article VI is not self-executing in nature, regard must be had to the fact that these are domestic Court rulings and the fact that Space law is part of Customary International law which is affirmed by decades of State practise, cannot be denied, and neither can the fact that it is settled principle of international law that a State cannot, under the excuse of changes in domestic law, including subsequent Court rulings, renege from treaty obligations once ratified. In effect, the OST places strict checks upon the objectives behind exploring this uncharted territory by State and Non-State actors, far less allowing the possibility of even claiming rights of any kind. Moreover, it is no secret that private corporations operate predominantly with the object of individual gains and unless driven by the zeal to serve mankind and share profits with all countries, chances are that the investments made by private parties will have little to nil returns, far less any substantive protection. Also, the marked absence of a designated “Space Police” to patrol and check exploitative behaviour arising out of private activities owing to the presence of Article IV makes any form of substantive protection offered by States to private equity outside the Kármán line, ineffective. These are some of the many challenges apart from concerns regarding contamination of space including <keyword id="943402" type="PERSON" weightage="20" keywordseo="Space-Debris">space debris</keyword>, that will require extensive deliberations by the Indian Government unless it wants to face a fusillade of criticisms as well as expose itself to the risk of multiple treaty breach claims and possible sanctions from UN as well as its member States. Therefore, unless carefully planned and executed in collaboration with other State actors and under a highly controlled yet a pragmatic regime, that can ensure a balance between the needs of private investment and obligations posed by the OST, India’s space ambitions for the moment appear to be anachronistic and as surrealistic as the flying ambitions of Icarus and Daedalus. (This article was written by Nilanjan Sen, who is an experienced lawyer, specialising in International Law and Arbitration. His views are personal.) SEE ALSO: <a href="https://www.businessinsider.in/science/health/news/coovid-vaccine-from-oxford-serum-institute-and-astrazeneca-shows-promising-immune-response/articleshow/77069321.cms">The COVID-19 vaccine from Oxford and AstraZeneca shows 'promising' results in early human trials</a> <a href="https://www.businessinsider.in/entertainment/news/dil-bechara-kissing-booth-2-and-other-movies-you-can-watch-on-netflix-amazon-prime-disneyhotstar-this-week/slidelist/77142498.cms">Dil Bechara, Kissing Booth 2 and other movies you can watch on Netflix, Amazon Prime, Disney+Hotstar this week</a> <a href="https://www.businessinsider.in/business/startups/news/work-from-home-effect-these-companies-are-shelling-out-for-employees-power-bills-internet-cost-and-more/articleshow/77139229.cms">WFH effect – These companies are paying for employees' power bills, internet cost and more</a>

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Five personal finance lessons to learn from ISRO’s Chandrayaan-3 mission

Anagh Pal

ISRO doubles down on startups and MSME for space technology — launches SEED program and reviews over 200 applications under ARISE mission

Prabhjote Gill

India's test of its anti-satellite weapon may have weakened its fight against dangerous space debris

Prabhjote Gill

ISRO may launch four Kleos Space satellites in November — ending COVID-19 hiatus

IANS

NASA wants to create a marketplace to buy and sell lunar dirt from private companies

IANS

What is the Epidemic Diseases (Amendment) Ordinance — key provisions up for Parliament's consideration

BI India Bureau

OPINION| The fault in our stars: India’s bid at privatizing space

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