Latest News | 'India Has USD 100 Bn Financing Opportunity in Aircraft Leasing Space in Next 20 Years'
Get latest articles and stories on Latest News at LatestLY. India, which is one of the largest aviation markets in the world, has an opportunity for providing financing up to USD 100 billion in the aircraft leasing segment in the next 20 years, an advisory firm said on Thursday.
Mumbai, May 4 (PTI) India, which is one of the largest aviation markets in the world, has an opportunity for providing financing up to USD 100 billion in the aircraft leasing segment in the next 20 years, an advisory firm said on Thursday.
Primus Partners said that around 80 per cent of the total commercial fleet in the country is leased in comparison to 53 per cent globally.
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"With growing passenger traffic, India's demand for aircraft is predicted to reach around 2,100 in the next 20 years. An enabling and conducive aviation eco-system with ample focus on the domestic leasing industry can propel India's capability to tap into the USD 100 billion financing opportunity in the next 20 years," it said in a release.
The advisory firm also released a report titled 'Aircraft Leasing Industry: Has India Nailed the Landing?'
At present, domestic carrier finance their aircraft leases mainly through Ireland, Singapore and Hong Kong.
Primus Partners noted that leasing internationally implies Indian funds are redirected abroad, which is another factor that should drive the government to take necessary steps to establish a thriving leasing ecosystem in India.
"There is a dire need to streamline processes and the regulatory environment, with Gujarat International Finance Tec-City International Financial Services Centre (GIFT IFSC) possessing the sufficient potential to become the face of aircraft leasing in India," it added.
The report also suggested strategic and definitive measures to boost the aircraft leasing sector, which is estimated to be worth more than USD 150 billion globally.
(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)