India’s civil aviation sector offers vast growth opportunities: PM

Prime Minister Narendra Modi on Wednesday urged investors to make most of the vast growth opportunities India’s civil aviation sector offers amid his government’s emphasis on making air travel inclusive, self-reliance in manufacturing and making the country a global aviation hub.

Only a few countries have such large-scale development plans, offer policy stability and pursue technological ambitions as India, Mr. Modi said, addressing virtually Wings India 2026 civil aviation conference and show that got underway here on Wednesday. Next era of the sector is full of aspirations and India is emerging as a major player, he said, adding the country presents a spectrum of opportunities in aircraft manufacturing, pilot training, advanced air mobility and aircraft leasing. India has emerged as the world’s third-largest domestic aviation market and amid rapid increase in passenger traffic. Indian airlines have placed orders for 1,500 aircraft in recent years, the Prime Minister said, seeking to highlight how this was possible due to the government’s long-term vision. It includes an emphasis on providing air connectivity to tier-2 and tier-3 cities. The number of airports in the country has increased from 70 in 2014 to more than 160 in a decade. Over 100 aerodromes were also activated.

At the heart of these development is the historic transformation of air travel over the past decade in India from being an exclusive club to one that is inclusive. The government’s UDAN scheme to provide affordable fares resulted in 15 million passengers travelling on routes, many of which did not even exist earlier, he declared.

Next phase

The government is working on the next phase of UDAN to further strengthen regional and affordable air connectivity, alongside expansion of sea-plane operations. By 2047, the country is expected to have more than 400 airports. Another factor bound to drive growth is the government’s focus on developing tourism sector. Demand for air travel will see unprecedented growth in coming years, creating greater opportunities for investment, he said.

Calling investors to become long-term partners in the country’s development journey and contribute to growth of the global aviation sector, the Prime Minister said as India emerges as a major global aviation hub, it is essential to reduce dependence on others for aviation needs and strengthen the path of self-reliance. Companies investing in India will benefit from the approach, he said, adding the country’s emphasis is on aircraft design, manufacturing and the MRO ecosystem.

Already a major manufacturer and supplier of aircraft parts and producing military and transport aircraft domestically, India is keen on moving forward in civil aircraft manufacturing, Mr. Modi said, exuding confidence of India in future giving a new direction to global aviation sector with indigenously designed and manufactured electric vertical take-off and landing aircraft.

The country is working extensively on sustainable aviation fuel and poised to become a major producer and exporter of green aviation fuel in coming years. India is equally focused on air cargo and the government is working on all necessary regulatory reforms to make cargo movement faster and more efficient, Mr. Modi said, urging investors to explore opportunities in warehousing, freight forwarding, express logistics and e-commerce sectors.