India has revealed huge investment plans on airports as air travel demand picks up pace, Bloomberg reported.
The government will spend about Rs. 980bn ($12bn) by 2025 to boost regional connectivity.
India, which is one of the fastest-growing aviation markets across the globe, aims to increase numbers of airports from the current 148 to 220 by 2025.
The investment will be made on new airports, increasing regulators and air traffic controllers, and new flying schools, Reuters reported citing Government of India’s Civil Aviation Minister Jyotiraditya Scindia.
According to Bloomberg, private builders will invest about $9bn, while the remaining will be met by state-owned Airports Authority of India.
Developments will include greenfield projects, new terminals and revamp of existing facilities, including former military airfields.
Reuters quoted Jyotiraditya Scindia as saying: “We need to put in place the civil aviation infrastructure and capabilities that by 2047 would be able to support a $20tn economy within India.”
The Minister expects passenger capacity at the country’s six major airports to grow to 420 million in the next four years from 192 million today, while Indian carriers’ fleet are anticipated grow to 2,000 aircraft in five years from 700.
Meanwhile, aviation consultancy CAPA India expects Indian airlines to order at least 1,300 more aircraft in the next 1-2 years, Reuters added.
Jyotiraditya Scindia, who addressed the CAPA India Aviation Summit in New Delhi said: “Surprisingly and shockingly, the situation has turned the other way. Where at one point we did not have passengers to fill our airplanes … now we do not have enough airplanes to fly our passengers.”
Last month, Indian Minister of State for Civil Aviation General V K Singh said that upgrade work is currently in progress at the country’s existing brownfield airports.
Passenger capacity in India’s six major airports is expected to grow to 420 million in four years. Credit: Rudy and Peter Skitterians from Pixabay.