Union Minister of Civil Aviation Ram Mohan Naidu Kinjarapu revealed that India’s commercial airlines are awaiting deliveries of 1,640 aircraft, presenting a $50 billion opportunity for the country’s leasing sector in the next decade. The minister, speaking at the India Aircraft Leasing and Financing Summit 2.0 in GIFT City, highlighted the growth projections for India’s commercial aircraft fleet, expected to surpass 2,250 by 2035. India aims to establish itself as a prominent player in global aviation financing and leasing.
Naidu emphasized the necessity for a robust domestic financing and leasing framework to support the anticipated expansion of India’s commercial aircraft fleet. He also mentioned the successful implementation of key commitments made during the previous India Aircraft Leasing and Financing Summit, such as the enactment of the Protection of Interests in Aircraft Objects Act, 2025. This reform aligns India’s legal framework with the Cape Town Convention, addressing previous challenges faced by lessors.
The minister further announced the formation of a high-level stakeholder committee for leasing, fulfilling another significant assurance from the previous summit. He underscored the government’s unwavering support for the operational stability and long-term growth of Indian airlines. Initiatives such as capping Aviation Turbine Fuel price increases, reducing landing and parking charges by 25%, and providing credit support measures aim to bolster the aviation sector.
Gujarat Chief Minister Bhupendra Patel reiterated the state’s commitment to enhancing GIFT City’s status as a global financial and fintech hub. Patel also emphasized Gujarat’s expanding aviation infrastructure and invited global stakeholders to engage in the state’s aviation development initiatives. The International Financial Services Centres Authority Chairman K. Rajaraman highlighted GIFT City’s role in hosting aircraft lessors and aviation financing structures, pointing out recent reforms that lay the groundwork for internationally accepted financing models.
