Flying High! GIFT City Emerges as India’s Powerhouse for Aircraft Leasing

In a substantial advancement for India's aviation industry, Civil Aviation Minister Kinjarapu Rammohan Naidu revealed today that 200 aircraft have been leased from the GIFT City in Gujarat. This accomplishment officially establishes the GIFT City as a competitive international market for aircraft leasing, alongside Singapore and Dubai. 

 

Minister Naidu stated that this milestone demonstrates the government's commitment to building a strong aviation ecosystem in the country. He further explained that aircraft leasing is a financial innovation that is required to the needs of India's rapidly growing civil aviation market. He also explained that India has risen to the position of World's Third Largest Domestic Aviation Market, propelled by programs such as the UDAN scheme and plans for doubling the number of airports in India in the next ten years. 

 

Gujarat's Chief Minister, Bhupendra Rajnikant Patel, stated that he is proud to see GIFT City develop as India's fintech city, and is also establishing itself as an essential mode of development for the aviation sector. He reaffirmed Gujarat's intention to build Gujarat into an aviation leader, by providing the necessary infrastructure and support. 

 

GIFT City and developments like this will contribute highly to India's strength and defense in aviation, and  much to economic development.

 

Source: The Economic Times