Civil Aviation minister Hardeep Singh Puri today said within a very short period of time, India will be world’s third biggest civil aviation sector globally in overall terms.
Mr Puri said, India not only navigated through turbulent Covid times, but also the sector has now almost reached the pre-Covid levels in domestic sector.
Speaking at India Aircraft Leasing summit in New Delhi, Mr Puri said the target is 2000 aircrafts in Indian sky in near future.
The Minister said, Civil Aviation is a critical driver of the economic growth in India. He said, the establishment of Maintenance, Repair and Overhaul (MRO), financial services and particularly aircraft leasing is going to provide the cutting edge for transformational change. Mr Puri said, the MRO in India is coming off age.
Finance minister Nirmala Sithraman said the package announced through the budget is to give traction to the international financial sector in GIFT City in Gujarat. She said, owing to cost-effective features, India has rapidly built on the International Financial Services Centres Authority IFSCA.
Secretary Civil Aviation Pradeep Singh Kharola said, Aircraft leasing is the most profitable segment of the aviation value chain.
Mr Kharola said, unfortunately, not one aircraft has been leased from India and that is one big challenge the sector is facing.