India to invest Rs 1 trillion in setting up 100 new airports by 2024
India is planning to start 100 additional airports by 2024, as part of a plan to revive economic growth in Asia’s third-largest economy, according to people with knowledge of the matter.
The proposal, which includes starting 1,000 new routes connecting smaller towns and villages, was discussed at a meeting last week to review infrastructure needed by 2025, the people said, asking not to be identified as the discussion is private. Steps to start a plane-lease financing business in the country was also discussed, they said.
With economic activity at a six-year low and prospects of further slowdown looming, Prime Minister Narendra Modi is keen to double down on infrastructure projects in a bid to revive growth and achieve a target of making India a $5 trillion economy by 2025.
