Boosting India's Space Sector: IIFCL's Call for Easier Financing

IIFCL seeks the inclusion of the space sector in the harmonized list of infrastructure to facilitate easier financing for satellite vehicle manufacturing. The state-owned company is also assisting ISRO through its subsidiary and exploring asset-backed securities for business growth.

State-owned IIFCL has urged the government to include the space sector in the harmonized list of infrastructure, aiming to ease the financing of satellite vehicle manufacturing in India. The move is seen as a strategic step to bolster the nation's space exploration capabilities.

Under its subsidiary, IIFCL Projects Limited (IPL), IIFCL is currently providing advisory services to the Indian Space Research Organisation (ISRO). IIFCL's collaboration with ISRO encompasses various initiatives, including several satellite transfers to NewSpace India Ltd (NSIL), a commercial arm of ISRO striving to promote high-tech space activities in Indian industries.

The request to streamline infrastructure financing coincides with the recent liberalization by the Union Cabinet that allows up to 100% Foreign Direct Investment in the sector. This development aims to enhance private sector involvement and technology assimilation, thereby contributing to India's self-reliance in space technology.

(With inputs from agencies.)