An official statement said that Modi has reviewed strategies to make the aviation industry more efficient at a meeting with ministry officials, where it was also decided to use Indian airspace more effectively. This would be done in cooperation with the armed forces and help the public and the airlines save costs, according to the statement, The statement added: “For generation of more revenue as well as to bring in more efficiency at the airports, the ministry of civil aviation has been asked to expedite the process of handing over of six more airports on public-private partnership basis, by commencing the tender process within three months.”
The Indian Government plans to privatise up to 35 of the country’s airports in phases over the next five years. These, along with the greenfield projects to be initiated during the same period, is expected to see about INR 1.4 trillion (about USD 18.466 billion) of investments flowing into airport infrastructure, according to government estimates. Under the ambitious privatisation plan, the right to manage airports will be granted for about 50 years, based on a revenue sharing (per passenger) model.