Addressing the India Aircraft Leasing and Financing Summit 2.0 organized at GIFT City, Gandhinagar today, Chief Minister Shri Bhupendra Patel said that aircraft leasing and financing is a very important aspect for the Indian aviation sector. Till now, our airline companies had to depend on foreign financial centers to take aircraft on lease. However, under the guidance of the Prime Minister, the International Financial Services Centre (IFSC) established at GIFT City has opened new avenues in this direction. He added that the Gujarat government is committed to promoting the aviation sector. We are continuously focusing on increasing air connectivity and strengthening airport infrastructure in the state and Gujarat will play an important role in the aviation sector in realizing the Prime Minister's vision of 'Viksit Bharat @ 2047'.

Union Civil Aviation Minister Shri Ram Mohan Naidu, while addressing the gathering, said that the Summit is becoming highly significant due to the extraordinary response received from across the country and around the world. Recalling the past, the Minister stated that a year ago, all stakeholders had gathered in the same hall and raised a very bold question: “Can India bring aircraft leasing back home?” Today, I can say with utmost confidence that we are successfully moving forward on the path of answering that question with a resounding 'yes'.

He added that this achievement would not have been possible without the transformative vision of Hon'ble Prime Minister Shri Narendra Modi Ji. The Prime Minister's call for "Make in India, Make for the World" and his unwavering commitment to establish India as a global economic powerhouse have given a new purpose and direction to every sector of the country, including aviation. Under his able leadership, India has not only become one of the fastest growing economies in the world, but has emerged as a nation to which the entire world looks with hopeful eyes for inspiration, partnership and leadership.

Referring to the mantra of ‘Sabka Saath, Sabka Vikas’, Ram Mohan Naidu Kinjarapu presented statistical details highlighting the transformation taking place in India’s civil aviation sector. He stated that India’s combined domestic and international passenger traffic has currently reached 191 million. India's commercial fleet is expected to reach 1,100 aircraft by 2027 and is expected to triple to 2,250 aircraft in the next 10 years, making India the world's third largest civil aviation market. Referring to the huge orders placed by Indian domestic carriers, he said that IndiGo has placed orders with Airbus for a total of 1,330 aircraft and Air India has placed orders for around 570 aircraft. He added that several new airline companies are also entering the sector. This is not just an expansion but a declaration of confidence in India's aviation future.

The Civil Aviation Minister presented the milestone progress achieved since the previous summit held in March 2025. He said that highly prestigious greenfield airport projects of national importance – Navi Mumbai and Jewar – have been successfully inaugurated. On November 23 last year, India had set a record high with over 5.3 lakh domestic passengers in a single day and since then there have been several consecutive days in which more than 5 lakh passengers have travelled daily.

The Minister further said that a historic fund commitment of Rs 29,000 crore has been made under the Modified UDAN (UDAN) scheme to develop 100 airports and 200 heliports in the next 10 years. Such financial assistance has never been announced on such a large scale in the history of Indian aviation.

The Minister stated that the legal reforms will result in substantial annual savings of nearly USD 500 million for Indian carriers. He further informed that, in order to strengthen the aircraft leasing and financing ecosystem, a high-level stakeholder committee has been constituted. The committee comprises nodal officers from concerned government departments and various industry associations, and will periodically review the framework of the sector and put forward key recommendations to make it more globally competitive and robust.

On this occasion, Shri Amit Ray, Senior Economic Advisor, Ministry of Civil Aviation, Government of India; Shri K. Rajaraman, Chairman, IFSCA; Shri Juergen Westermayer, Chairman, FICCI and Shri Sameer Kumar Sinha, Secretary, Ministry of Civil Aviation were present.

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