Here is your 10-point cheatsheet to this big story:
Chandrayaan-2 mission after its lift-off from Sriharikota will ultimately head close to the South Pole of the moon for a soft landing after spending nearly two months on its long 3. 84 lakh km journey. All of Chandrayaan-2's orbiter, lander and rover have been designed and made in India.
The 640 tonne rocket GSLV Mk III, also known as "Baahubali", is as high as a 15-storey building and it will lift the 3.8 tonne satellite on its journey to the moon. This will be the third launch of India's heaviest launcher.
President Ram Nath Kovind will be at Sriharikota to witness the midnight launch. He will be the third sitting president to witness a live launch from the space port.
The Rs 1,000-crore Chandrayaan-2 mission will carry a 1.4 tonne lander Vikram - which in turn will take the 27-kilogramme rover Pragyan - to a high plain between two craters on the lunar South Pole.
ISRO chief K Sivan said Vikram's 15-minute final descent "will be the most terrifying moments as we have never undertaken such a complex mission".
If India succeeds, it will become the fourth country to soft-land a spacecraft on the lunar surface after the US, Russia and China. Israel tried earlier this year but failed.
If the mission is successful, it will be a huge achievement for space agency ISRO that has a budget almost 20 times less than US space agency NASA.
Prime Minister Narendra Modi has vowed to send a human into orbit by 2022 through Gaganyaan. Most experts say the geo-strategic stakes are high and that India's low-cost model could win commercial satellite and orbiting deals with the country asserting its space power.
Chandrayaan-2 is India's second foray to the moon. Chandrayaan-1 mission was an orbiter where India was the captain and there were several global players like USA, Britain, Bulgaria and the European Space Agency. It cost Rs. 450 crore and was launched using India's workhorse rocket, the Polar Satellite Launch Vehicle (PSLV) in 2008.
The United States spent about $25 billion - the equivalent of more than $100 billion in current prices - on 15 Apollo missions, including the six that put Armstrong and other astronauts on the moon. China spent $8.4 billion on its Chang'e 4 lunar craft in January, and Russia spent over $20 billion at today's values on lunar missions in the 1960s and 70s.
ISRO Chief Shares Big Update On India's Sun Mission Aditya-L1 India Aims To Send Astronaut To Moon By 2040, Own Space Station By 2035 New Pic Of Chandrayaan-3 Lander, Courtesy Chandrayaan-2 Orbiter Barack Obama Wants Joe Biden To Pull Out Of US Presidential Race: Report World's Largest Isolated Tribe Makes Rare Appearance In New Footage 32 Dead In Bangladesh Unrest, Protesters Set Fire To State TV Headquarters Comedy Legend Bob Newhart Dead At 94: Publicist Israeli Strike Kills Field Commander In Elite Hezbollah Unit: Report Delhi-San Francisco Air India Flight Diverted To Russia After Engine Glitch Track Latest News Live on NDTV.com and get news updates from India and around the world.