Vivek Joshi, the Financial Services Secretary, stated that India provides plenty of chances for the aviation industry. He mentioned that the government has taken steps to encourage investment in this sector. Joshi was speaking at a conference about airports organized by iiscl. He also pointed out that the introduction of the Uday Desh ka Aam Nagrik (UDAN) scheme has significantly boosted the growth and progress of the aviation sector over the last 7-8 years.
This means that the number of airports in India has nearly doubled, going from 74 in 2014 to 148 in 2023. This has greatly improved the ease of travel between different regions in the country.
The government has also agreed in principle to establish 25 new airports from scratch all over the country, he mentioned. He also mentioned that the construction of two large airports in Noida and Navi Mumbai will increase the overall capacity of airports in the country.
India's aviation industry has experienced significant growth in recent years. This is thanks to government policies that encourage investment, a supportive environment for investors, and a rising demand for air travel. The aviation sector in India is now the third largest and is growing faster than in most other countries. It's expanding at a rate of about 10%, which is 2.5 times faster than the global average.