Aviation awaits Rs.17,500-cr infra ventures

    Aviation Industry
    Airports Authority of India (AAI) has prepared a detailed roadmap to set up new airports and upgrade the existing ones at a whopping investment of Rs. 17,500cr, said official sources, elaborating that AAI currently manages 125 airports including 11 International Airports. India is currently the fastest growing civil aviation market in the world and up till now, it has grown more than 23% in passenger traffic. It is growing at a pace where one needs to invite investments from foreign shores as well. In the recent Union Budget, Finance Minister Arun Jaitley proposed to amend the Airports Authority of India Act so that AAI could monetize its urban airport land assets of approximately 50,000 acres. AAI also stressed upon the government's commitment to increase air connectivity in the country, especially to tier II and III towns and beyond, through the Regional Connectivity Scheme and has already received requests to open up 55 airports across regions in the country.
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