From early in the morning, there was an atmosphere of excitement and tension at the Indian space agency's mission tracking centre in Bangalore.

Scientists, many of them women and several of them young, were seated in front of their computer monitors tracking the progress of Mangalyaan.

Giant screens above their heads fed a steady stream of data, graphics and sequence of operations. The first whoops broke out when Mangalyaan successfully fired up its liquid engine, the first in a series of critical moves to make sure that the spacecraft was able to get into the planet's gravitational pull.

Then there was an agonising 20 minutes, when Mangalyaan disappeared behind Mars and beyond contact.

But there was no mistaking the moment, when the scientists all rose as one, cheered, clapped, hugged each other and exchanged high-fives - ­ confirmation that Mangalyaan was now on an elliptical orbit around Mars.

After PM Modi's congratulations, they poured out into the open and the bright sunlight, beaming as they took in the adulation.

"Thrilled to be a part of history," one young scientist told me. "It's like hitting a golf ball from Bangalore to London and getting it into the hole in one go," deputy operations director, BN Ramkrishna said. "It's got to be that precise."

Mr Modi congratulated the scientists and said: "Today, all of India should celebrate our scientists. Schools, colleges should applaud this."

"If our cricket team wins a tournament, the nation celebrates. Our scientists' achievement is greater," he added.

The total cost of the Indian mission has been put at 4.5bn rupees ($74m; £45m), which makes it one of the cheapest interplanetary space missions ever. Nasa's recent Maven mission cost $671m.

The Mangalyaan probe will now set about taking pictures of the planet and studying its atmosphere.

One key goal is to try to detect methane in the Martian air, which could be an indicator of biological activity at, or more likely just below, the surface.

David Fuller's view

Why is India doing this?

To change global perceptions, inspire its citizens, and demonstrate that India is a democratic, peaceful superpower in the making.

Should India have spent $74 million on this mission when millions of its poor are struggling to survive?

Yes, because it will accelerate India’s technological development and attract inward investment.  India is a third world economy in many respects but it also has a number of advanced, developed world skills. 

A global stock market correction would create another buying opportunity closer to the MA for anyone who would like to invest in India’s promising stock market.