India's Aviation Progress Is On the Right Track: Prime Minister Narendra Modi In 10-15 years India's aviation industry has potential to evolve into a 10 billion dollar market by domestically manufacturing avionics, structural components and electronics
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Addressing the 81st Annual General Meeting (AGM) of the International Air Transport Association (IATA) at Bharat Mandapam in New Delhi, Prime Minister Narendra Modi emphasized India's growing aviation progress powered by Make In India. In 10-15 years India's aviation industry has potential to evolve into a 10 billion dollar market by domestically manufacturing avionics, structural components and electronics. With 2,200 aircraft orders expected to reach India, there is unprecedented scope of growth in the sector.
"Today, India is emerging as a global leader in space-aviation convergence. Go beyond manufacturing and invest in designing aircraft and components in India," Prime Minister Narendra Modi said, adding that infrastructure development is a key priority. "India is investing in world-class airports and the number of airports has increased to 162 from 74. This expansion reflects the government's broader push to enhance connectivity and support economic development."
Underlining that consistent reforms have been a key driver of India's rapidly expanding aviation sector, the Prime Minister stressed on reinforcing India's focus on industrial growth, with the Protection of Interest in Aircraft Objects Bill, passed in Parliament this year. He remarked that this legislation opens new opportunities for global aircraft leasing companies in India. He also pointed to the incentives offered at Gift City, stating that these measures have made India an attractive destination for aircraft leasing.
The emergence of Maintenance, Repair, and Overhaul (MRO) as a sunrise sector, is a step towards India's accelerating efforts to become a global hub for aircraft maintenance. He noted that in 2014, India had 96 MRO facilities, which has now increased to 154 while 100 percent FDI under the automatic route, GST reduction, and tax rationalization measures have given fresh momentum to India's MRO sector. Modi further outlined India's goal to establish a $4 billion MRO hub by 2030. Stressing that India should not be viewed merely as an aviation market but as a value-chain leader, the Prime Minister said, from design to delivery, India is becoming an integral part of the global aviation supply chain. He asserted that India's direction and pace are on the right track, expressing confidence in the nation's continued rapid progress.
He highlighted that growth in the aviation sector translates to new flights, new jobs, and new possibilities, noting that the industry is creating expanding opportunities for pilots, crew members, engineers, and ground staff. India has become the third-largest domestic aviation market in the world. The UDAN scheme has powered the ambition of over 15 million passengers who have benefited from affordable air travel.
The Prime Minister remarked that India's airlines continue to achieve double-digit growth, with 240 million passengers flying annually—surpassing the total population of most countries worldwide. He projected that by 2030, this number is expected to reach 500 million passengers. He noted that 3.5 million metric tons of cargo are transported by air annually in India and this volume is set to increase to 10 million metric tons by the end of this decade.
