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flag IIFCL seeks government approval to classify space sector as infrastructure to boost financing and growth.

flag IIFCL, a state-owned Indian infrastructure finance company, is asking the government to classify the space sector as infrastructure to ease financing for satellite manufacturing. flag This could boost funding opportunities in the space industry. flag IIFCL currently advises the Indian Space Research Organisation and plans to set up a subsidiary to issue asset-backed securities for better capital management. flag The company also reported a 44% rise in standalone net profit for FY24.

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