PM Modi Invites Global Investments in India’s Aviation Growth Story
New Delhi– Prime Minister Narendra Modi, while addressing the 81st Annual General Meeting of the International Air Transport Association (IATA) and the World Air Transport Summit, extended an open invitation to global investors to participate in India’s fast-evolving aviation sector.
In his keynote, PM Modi highlighted that the new Indian Aircraft Act has aligned India’s aviation laws with global best practices, streamlining regulations and simplifying tax structures, thus opening the gates for significant foreign investment.
He emphasized that India is not just an aviation market, but is fast emerging as a value-chain leader, from design and manufacturing to delivery. The PM urged the global aviation industry to embrace both ‘Make in India’ and ‘Design in India’, asserting that India is becoming an integral part of the global aviation supply chain.
Among the key announcements was India’s goal to develop a $4 billion Maintenance, Repair, and Overhaul (MRO) hub by 2030. PM Modi termed MRO a “sunrise sector” and noted the increase in MRO facilities from 96 in 2014 to 154 today. He attributed this growth to proactive government reforms, including 100% FDI under the automatic route, GST reduction, and tax rationalisation.
PM Modi also spotlighted the success of the UDAN scheme, which has benefited over 15 million passengers, providing affordable air travel to first-time flyers and enhancing regional connectivity. With over 240 million passengers flying annually, India is now the third-largest domestic aviation market in the world, and this figure is expected to hit 500 million by 2030.
Additionally, India currently transports 3.5 million metric tons of cargo by air annually, a figure projected to rise to 10 million metric tons by the decade’s end.
In closing, the Prime Minister reaffirmed India’s position as a rising global aviation leader, driven by strategic reforms, a skilled workforce, and an open invitation to collaborate and invest in a future-ready aviation ecosystem.
