Rajesh Shrinet,
senior journalist
India’s economy is growing rapidly. Along with this, the demand for private aviation and air charter services is also continuously increasing in the country. Till a few years ago, traveling in a private plane was considered limited only to big industrialists and select leaders, but now this facility is gradually becoming popular among businessmen, founders of startup companies, investors, people associated with sports and film world. The need to save time and better connectivity has given new impetus to this sector. However, despite increasing demand, the pace of infrastructure and financial reforms is still not that fast.
Today India is among the fastest growing economies of the world. New industries are being established in the country, the scope of business is increasing and the number of prosperous people is also continuously increasing. According to various reports, the number of high income people in India is increasing every year. Its direct impact is visible on the private aviation sector. Experts believe that India’s business aviation sector is growing at the rate of about 8 to 10 percent every year.
There are currently about 250 to 300 business jets and a large number of helicopters and charter aircraft in service in India. This number is less compared to countries like America and Europe, but it is expanding rapidly in India. The demand for private flights saw a further increase after the Covid pandemic. At that time people used private planes for safe and convenient travel. This trend continues even after the pandemic is over.
A major reason for the increasing demand for private aviation is the limitations of air connectivity in the country. India’s geographical area is very large and there are many important industrial and commercial cities which are not served by direct commercial flights. Many times a businessman has to travel to two or three cities in a single day. In such a situation, private plane becomes the easiest means to save time.
For example, it may take eight to ten hours to reach a small industrial city by normal flight and road. The same journey can be completed in a few hours through a private plane. This is why large business groups and investors view private aviation not as an expense but as a time-saving investment. The use of private aviation has also increased rapidly in the political field. During elections, leaders hold meetings in several districts and cities in a day. In such a situation, charter planes and helicopters become important means for them. Apart from this, the use of private aviation is also increasing in sports teams, film artists and emergency medical services.
However, there are many challenges facing the progress of this sector. The biggest problem is that of infrastructure. The number of airports in the country has definitely increased, but the facilities required for private aviation are still not sufficient. Many airports do not have enough space for parking planes. There is a shortage of hangars to house aircraft. Repair and maintenance facilities are also limited. This increases costs for aircraft operators. Financing is also a big challenge. A modern business jet costs several crores of rupees. Easy and affordable financing system for purchasing aircraft has not yet developed in India. This is the reason why many companies resort to foreign leasing arrangements. This increases expenditure and also creates dependence on foreign currency.
The government has taken some steps to promote aircraft leasing in recent years. Efforts have been made to make Gujarat’s GIFT City a center for aircraft leasing. This is a positive initiative, but it needs to be further strengthened so that Indian companies have to be less dependent on foreign countries. The industry also has some complaints regarding the tax system and rules. There are various taxes and duties involved in importing, maintaining and operating aircraft. Apart from this, it also takes time to obtain many permissions. The industry believes that if processes are simplified and costs are reduced, this sector can grow more rapidly.
It is important to understand that private aviation is not just a luxury for the rich. In many developed countries of the world, it is considered an important means of economic development. It connects areas which are not reached by regular air services. This promotes trade, investment and employment. The aviation sector provides employment to thousands of people related to pilots, engineers, technicians, ground staff and other services. The potential for private aviation in India is huge. Industry, trade and investment are continuously growing in the country. New economic centers are developing. In such a situation, the need for fast and convenient air connectivity will also increase.
If the government expands airport facilities, improves aircraft parking and maintenance systems and pursues financial and policy reforms, then this sector can play a big role in the economic progress of the country. The growing demand for private aviation is a sign that India is changing rapidly. Economic activities are increasing in the country and people’s travel needs are also changing, but increasing demand alone does not lead to development. For that, strong structure, simple rules and better financial system are also necessary. If these shortcomings are addressed, private aviation can become an important sector to further strengthen India’s economic strength in the coming years.
Comments are closed.