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Indian aviation sector to witness investments worth Rs 1.65 lakh cr

Indian aviation sector to witness investments worth Rs 1.65 lakh cr

Minister of Civil Aviation Jyotiraditya Scindia said that the aviation sector is expected to witness investments worth Rs 1.65 lakh crore, including from private players, in the coming years.

The government also aims to have 200 airports in the country. The civil aviation sector, being hit by the Covid-19 pandemic, is recovering, and domestic passenger traffic is slowly touching the pre-pandemic levels.

Scindia said that the Ministry has a plan of close to Rs 98,000 crore over the next four years to be deployed in airports.

Of the total amount, Rs 25,000 crore would be from the Airports Authority of India (AAI), and Rs 22,000 crore for airports expansion and construction of new terminal buildings.

He highlighted that in the past eight years, the Ministry has built 67 airports and plans to build nearly 200 airports in India. He mentioned a new policy for smaller aircraft to encourage regional transport aircraft, helicopters and seaplanes.

Further, he intends to connect Tier 2 to 3 cities to metros and has planned over the next three to four years.

Amid the high growth potential in the country’s aviation sector, a new airline Akasa might take to the skies in the coming months, and the now-shuttered Jet Airways would restart operations.

Scindia added that Akasa and Jet Airways might begin operations before the end of this financial year.

According to data, this year, in March, around 1.06 crore domestic passengers travelled via air.


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Also read: Civil Aviation ministry to develop 21 greenfield airports in India

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