Gujarat Chief Minister Bhupendra Patel revealed that over 370 aviation assets, valued at nearly $5.8 billion, have been leased via the International Financial Services Centre (IFSC) at GIFT City. Patel emphasized the rapid expansion of the aviation leasing sector in India, with the IFSC emerging as a significant platform for such activities.
Highlighting the importance of GIFT City in fostering the aviation leasing industry, Patel stressed the need for India to become self-reliant in this sector. He underscored the state government’s efforts to streamline regulations through the IFSC to enhance the Ease of Doing Business for aircraft leasing companies.
Patel also mentioned recent policy initiatives, including the extension of the tax holiday period for aircraft leasing companies to 20 years and the introduction of ‘Credit Line 5.0’ to support the aviation sector. He commended Prime Minister Narendra Modi’s initiatives to boost aircraft manufacturing, pilot training, and aircraft leasing, noting the opportunities available in Gujarat in these areas.
Discussing the outcomes expected from the summit, Patel expressed confidence that the deliberations would yield tangible benefits for the aviation sector. He highlighted Gujarat’s airport infrastructure expansion plans, including the development of new airports, and emphasized the significance of the proposed airport infrastructure in Dholera for the state and the country’s economy.
Encouraging aviation industry leaders to invest in GIFT City, Patel emphasized that such investments would align with India’s long-term development objectives. He invited stakeholders to participate in the journey towards building a developed India by 2047, with the full support of the Gujarat government.
