Even as India is projected to top the global aviation market chart in the next 7-8 year overtaking the US and China, the Uttar Pradesh government has planned to build a mega 1,000 acre aviation hub in Noida.
The proposed aviation hub will come up in the vicinity of the upcoming Jewar International Airport.
The hub will manufacture and assemble aircraft, and provide aircraft maintenance, repair and overhaul (MRO) services to Indian and foreign airliners. Currently, Indian airplanes are repaired and overhauled in foreign locations.
Meanwhile, Indian and foreign companies have already evinced interest in setting up their units in the proposed aviation hub.
According to Yamuna Expressway Industrial Development Authority (YEIDA) CEO Arunvir Singh, leading companies are eager to invest in UP, and discussions facilitated by the US embassy had also taken place.
The domestic air traffic in the current financial year 2023-24 is estimated to hit 150-155 million, thus crossing the pre-pandemic level.
Meanwhile, the process of acquiring 1,365 hectares in the second phase of Noida International Airport Limited (NIAL) is underway for the proposed MRO and aviation hub.
Besides, the state is drafting an aviation manufacturing scheme to encourage airplane assembling, engine manufacturing, nozzle manufacturing, and other aircraft equipment manufacturing companies to establish their units in UP.
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Recently, the state also announced its FDI policy to provide benefits to global companies looking to invest in UP. The Yogi Adityanath government is confident of leveraging the FDI policy for investment in the aviation hub.