GIFT City Opens $5 Billion Opportunity for Aircraft Leasing in India

GIFT City in Gandhinagar is quickly becoming a game-changer for India’s aviation industry. Civil Aviation Minister K. Ramamohan Naidu has confirmed that the financial hub is unlocking an estimated $5 billion in yearly opportunities by making aircraft leasing cheaper and simpler for Indian carriers.

Speaking at the Western Region Ministers’ Conference on Aviation, Naidu said that GIFT City, set up as a special economic zone, has helped reduce leasing costs by up to 15 per cent. This matters hugely for India, where nearly 80 per cent of the commercial fleet is leased.

What sets GIFT City apart is the ease of doing business. Airlines and lessors based there get tax breaks and don’t need prior approvals for importing or leasing aircraft, saving time and money. It’s a clear signal to both Indian and global players that India is serious about building a self-reliant aviation ecosystem.

Naidu also highlighted how aviation today goes far beyond just flying passengers. Airports, he said, are turning into growth hubs, fueling tourism, real estate, infrastructure and even agriculture in surrounding areas.

Linking these advancements to the vision of Viksit Bharat 2047, Naidu called aviation a key driver for national development, impacting 140 crore Indians.

GIFT City’s role in that journey is clear: a focussed initiative helping India own more of its fleet and laying strong foundations for the future of air travel in the country.