PM Modi signals rapid growth in aviation sector, says Indian carriers have placed orders for over 2,000 new aircraft

Prime Minister Narendra Modi on Monday said that Indian carriers have placed orders for over 2,000 new aircraft, hailing the rapid growth that the Indian aviation sector witnessed over the past decade.

Addressing the International Air Transport Association's (IATA) 81st Annual General Meeting (AGM) and the plenary session of the World Air Transport Summit (WATS), the Prime Minister said that the aviation sector in India is at an inflection point.

“Indian airlines have also placed orders for over 2,000 aircraft, marking just the beginning of a transformative journey. India's aviation sector is now at an inflection point, ready to soar to new heights,” he said.

“This journey will not only transcend geographical boundaries but also drive progress towards sustainability, promote green mobility, and ensure equitable access for all,” he added.

Unprecedented change

PM Modi further pointed out the success of the Indian aviation sector, which has undergone an unprecedented change.

The last IATA AGM in India was held 42 years ago in 1983. The PM remarked that a lot has changed over these past four decades.

“In the last few years, India has witnessed an unprecedented transformation in the field of civil aviation. Today, India is the world's third-largest domestic aviation market,” he said.

“A lot has changed in India in these four decades. Today's India is more confident than ever before. In the global aviation ecosystem, we are not just a huge market but also a symbol of policy leadership, innovation and inclusive development,” Modi added.

UDAN success

Prime Minister Narendra Modi also highlighted the success of the UDAN (Ude Desh ka Aam Naagrik) scheme launched by his government in 2016 in order to make the aviation industry more accessible to the public.

“The success of the UDAN scheme is a golden chapter in Indian civil aviation. Under this scheme, more than 15 million travellers have availed affordable air travel,” he said.

India’s airlines continue to achieve double-digit growth, with 240 million passengers flying annually, surpassing the total population of most countries worldwide, he noted.

Modi said the projection is that by 2030, this number is expected to reach 500 million passengers.

Modi noted that India had only 74 operational airports in 2014, which has more than doubled to 162.

He invited global companies to invest in the country's fast-growing aviation sector, citing a streamlined regulatory framework, ease of compliance, and a simplified tax structure.

“India has become the third-largest domestic aviation market in the world,” he said.