Advantage India
Robust
Demand
* Rising working group and widening middle-class demography is expected to boost demand.
* Country will become the third-largest aviation market in terms of passengers by 2024.^
Opportunities
in MRO
* By 2028, the MRO industry is likely to grow over US$ 2.4 billion from US$ 800 million in 2018.
* Land allotment for entities setting up MRO facilities in India has been revised to a period of 30 years in September 2021, from the current 3-5 years as the government aims to make India a ‘Global MRO Hub.
* In June 2023, the US committed to creating a global hub for MRO for high-end drones in India.
Policy
Support
* Foreign investment up to 49% is allowed under the automatic route.
* Under Union Budget 2021-22, the government lowered the custom duty from 2.5% to 0% on components or parts, including engines, for manufacturing of aircrafts by public sector units of the Ministry of Defence.
Increasing
Investments
* Investment upto Rs. 420-450 billion (US$ 5.99-6.41 billion) was expected in India’s airport infrastructure between FY18-23#.
* Growing private sector participation through the Public-Private Partnership (PPP).
* In May 2023, It was informed that there is a plan to invest Rs. 1 lakh crore (US$ 12 billion) in airports in the coming days.
INDIRA GANDHI INTERNATIONAL AIRPORT (IGIA)
Indira Gandhi International Airport is the main gateway to Delhi, India, and one of the busiest airports in the region. Operated by Delhi International Airport Limited, which is owned by GMR Infrastructure (54%), Airports Authority of India (26%) and Fraport (10%), Eraman Malaysia (10%). The airport hosts domestic, regional, and international passenger and cargo services from over 40 airlines. The airport acts as a hub for airlines including Air India, Air India Regional, Blue Dart Aviation, GoAir, IndiGo, JetLite, and SpiceJet.
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Indigo
IndiGo, continue to be India’s largest passenger airline. The company primarily operates in India’s domestic air travel market as a low-cost carrier with a focus on three pillars – offering low fares, being on time, and delivering a courteous and hassle-free experience. IndiGo has become synonymous with being on time.
Read MoreSpiceJet
SpiceJet is an Indian low-cost carrier based at Indira Gandhi International Airport, New Delhi. SpiceJet is one of India's largest airlines serving domestic destinations across India. The airline commenced international operations in October 2010 and currently operates flights to 62 destinations – 53 domestic and 9 international.
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