4 days ago
- Business
- Business Standard
IATA summit: PM Modi bats for India as global aviation, manufacturing hub
Prime Minister Narendra Modi on Monday addressed the 81st Annual General Meeting (AGM) of the International Air Transport Association (IATA) at Bharat Mandapam in New Delhi. Highlighting India's aviation progress, he said: 'India is the third-largest domestic civil aviation market in the world.'
The IATA AGM and World Air Transport Summit (WATS) is being hosted in India after 42 years — the last such gathering was held in 1983. This year's summit, taking place from June 1 to 3, has brought together over 1,600 participants, including global aviation leaders, senior officials, and international media. 'India's aviation sector a global force'
Underscoring the strength and potential of India's aviation industry, the Prime Minister said: 'India's aviation sector is a key player in the global air transport industry... India offers an excellent investment opportunity in aviation sector for global companies.' He added that the country's supportive policies, technological talent, and growing market demand were creating the right conditions for long-term growth.
The Prime Minister also pointed to infrastructure development as a key priority, stating: 'India is investing in world-class airports; 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.
As part of India's drive for industrial growth, PM Modi added: 'The government is taking all steps to make India a global manufacturing hub. MRO emerging as sunrise sector; target is to make India a global MRO hub by 2030.' His remarks align with initiatives such as Make in India, including efforts in aviation-linked sectors like aircraft maintenance and repair. "We want the world to see India not just as an aviation market but also as a value chain direction is right, our speed is we are confident that we will continue to move forward rapidly," said the PM. The success of the UDAN scheme is a golden chapter in Indian civil aviation, he added.
Focus on connectivity and expansion
Union civil aviation minister K Rammohan Naidu, who also addressed the AGM, said India plans to add 50 more airports over the next five years. He noted that the number of operational airports has more than doubled — from 74 in 2014 to 162 in 2024.
He also highlighted the success of the regional air connectivity scheme UDAN, which has operationalised 619 routes so far, making air travel accessible to a wider population. The minister added that efforts were underway to position India as a global hub for Maintenance, Repair and Overhaul (MRO) services, a segment projected to be worth $4 billion by 2031.
