Indian aviation sector will see Rs 1 lakh cr investment in five years

It is reported that the aviation sector in India, currently growing at nearly 28 per cent, will see an investment of close to Rs 1 lakh cr in the next five years for capacity augmentation and development of new greenfield airports, according to Minister of State for Civil Aviation Jayant Sinha.

The Aviation ministry is planning to achieve 1 billion passenger trips per annum within the next 15-20 years. “The capacity addition will come with other amenities such as use of digital technology for passenger verification and bringing about a paradigm shift in airport designs,” said the minister.

The Airport Authority of India alone would infuse Rs 20,178 crore in the next 4-5 years for development of infrastructure at 21 airports. A capex outlay of Rs 50,000 crore is expected to be infused for the development of new greenfield airports such as Navi Mumbai, Jewar and Mopa (Goa). Besides, upgradation and expansion have been proposed for Delhi, Bengaluru, Hyderabad airports under the private sector, for which an investment of Rs 25,000 crore is expected in five years.

The minister also mentioned about the Union Cabinet’s approval for constructing new terminals in Chennai, Lucknow and Guwahati, which together would see investments worth more than Rs 5,000 crore.