GIFT City to Boost Development of Aircraft Leasing Hub: Civil Aviation Minister.

Civil Aviation Minister Ram Mohan Naidu recently highlighted Gujarat International Finance Tech-City (GIFT City) as a crucial enabler for developing a competitive aircraft leasing hub in India. Speaking at the “India Aircraft Leasing and Financing Summit” in Gandhinagar, Gujarat, Naidu emphasized that GIFT City would boost confidence, commitment, and collaboration within the aviation sector.
His remarks hold significance as most commercial aircraft in India are currently leased from foreign lessors based in Ireland, Dubai, and other global hubs. With Indian airlines having an additional 1,700 aircraft on order, the minister stressed the need for a strong domestic leasing ecosystem.
Naidu also pointed out that aircraft leasing is a key financial innovation necessary for India's rapidly expanding civil aviation sector. “Fuelled by the UDAN scheme and the doubling of India’s airports in the last decade, India has become the third-largest domestic aviation market in the world,” he said.
Looking ahead, the government aims to build 350 airports by 2047, including 34 mega airports capable of handling two crore passengers annually. Over the next five years, 50 new airports are planned, further strengthening aviation infrastructure.
Additionally, the minister announced a 10-year extension of the UDAN regional connectivity scheme, which aims to serve four crore passengers and add 120 new destinations across India.
HBL