Aviation Sector Expects Rs. 1.65 Crore Capex in the Next Years

For the first time in two years, domestic air passenger traffic surpassed 4 lakh on April 17.

Highlights

  • The country's airport sector is anticipated to attract investments worth Rs 1.65 lakh crore.
  • For the first time in two years, domestic air passenger traffic surpassed 4 lakh on April 17.
  • The Airports Authority of India (AAI) will contribute Rs 25,000 crore, while Rs 22,000 crore will go for airport expansion and the construction of new terminals.

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Aviation Sector

In the coming years, the country's airport sector is anticipated to attract investments worth Rs 1.65 lakh crore, including from private players, and the government plans to build 200 airports, according to Civil Aviation Minister Jyotiraditya Scindia.

The civil aviation sector, which was severely harmed by the coronavirus pandemic, is steadily regaining ground, with domestic passenger volume approaching pre-pandemic levels. For the first time in two years, domestic air passenger traffic surpassed 4 lakh on April 17.

"We have a plan of close to Rs 98,000 crore over the next four years to be deployed in the area of airports alone," Scindia said of capital spending plans.

The Airports Authority of India (AAI) will contribute Rs 25,000 crore, while Rs 22,000 crore will go for airport expansion and the construction of new terminals.

"In terms of new investments... (in airports), the private sector is looking at close to Rs 67,000 crore," Scindia said at the Times Network's India Economic Conclave.

The minister stated that the country will see significant expansion and that the goal is to have close to 200 airports.

"We had 74 airports prior to 2014 in 70 years of India's independence and in the last 8 years, we have built 67 airports, it is my intention, by the way, to take it close to 200 airports in India, and therefore you want to see a rapid expansion of airport infrastructure networks," he stated.

Scindia also mentioned a new policy for smaller planes, such as regional transport planes, helicopters, and seaplanes.

"So, I want to connect the last mile,  there's enough of connectivity coming in from international metros to metros domestically but I want to connect tier 2 to 3 cities to metros and to each other. So, I am looking at a very, very aggressive plan over the next three to four years," he stated.

Datchanapriya is a journalism and mass communication student from Chennai. Has always been passionate about writing and connecting with people.

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