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00:00Honourable Prime Minister Shri Narendra Modi ji, Honourable Minister of State Shri Muralithar
00:09Mahal ji, Chairman of Ayata Board of Governors Peter Albers, Director General Ayata Mr. Willie
00:16Walsh, Managing Director Indigo Rahul Bhatia ji, Business Leaders of the Global Industry
00:21and Distinguished Delegates, good evening and namaste. It is my immense privilege to welcome
00:28all of you to the 81st Annual General Meeting and World Air Transport Summit of Ayata hosted
00:34here in India, which is the global aviation capital. Aap sabi ko bharat mein swagat hai.
00:40I must begin by mentioning that the Ayata AGM 2025 is happening at the right place, at the
00:46right time, in the presence of the right leader, Shri Narendra Modi ji, who is a visionary leader
00:52shaping India's growth story with his unparalleled clarity, unwavering conviction and unyielding
00:58commitment. Today, India stands tall as a leader of the global economy with its worth exceeding
01:05four trillion dollars, by becoming the world's fourth largest economy and I am confident that
01:12India will ascend to the third largest global economy in the next three years. The incredible
01:17momentum is powered by the incredible momentum that we gain, is powered by India's robust
01:24financial and political stability. And at the centre of this is our transformative leadership
01:30by the direction of Honourable Prime Minister. And we are fast emerging as a strategic connector
01:36country, a bridge between regions, between economies and between supply chains. And India's strategic
01:43geographical position, abundant resources and vast human talent, India is a natural connector
01:50of the skies and aviation as well. And Honourable Prime Minister's presence today underscores
01:56the paramount importance India places on aviation, airline partners and on global collaboration.
02:03I commend Ayata for its long-standing contribution towards global aviation and today in organizing this
02:11big event, bringing together over 1700 delegates and including more than 200 airlines across
02:18the globe, creating a powerful platform for dialogue between industry leaders, stakeholders
02:25and government authorities. I would like to say this, that this is the time for Innovate
02:31in India, Integrate in India and Invest in India. And over the past decade, the transformation
02:38of India's aviation landscape has been nothing short of phenomenal. In 2014, we started with
02:4474 airports and today we are operating a staggering number of 162 airports, including 33 international
02:51airports, a doubling of its infrastructure at an exponential pace of about 8 airports annually.
03:00Guided by our Prime Minister's Amrit Kal vision, we are committed to building 50 more airports
03:05in the next five years. And by the Viksit Bharat plan that we have by 2047, we aim to have
03:11more than 350 airports. Our domestic traffic has surged 130 percent, our international traffic
03:18has grown from 55 million to 72 million. And in April 2025, India's domestic air traffic grew
03:25by 10 percent, outpacing global rate of 8 percent. At the heart of this growth has been the revolutionary
03:32scheme, Udaan, Uday Desh ka Amnagrik, connecting India one flight at a time. Envisioned by our
03:38Honorable Prime Minister Narendra Modi ji in 2016, Udaan has democratized air travel, making
03:44it accessible, affordable and available for each and every Indian in this great country. Through
03:51viability gap funding, we have operationalized 619 new routes and enabled 1 crore 50 lakh people
03:59to fly to the unserved and underserved destinations in this country. And with the demand continuously
04:05growing, we have announced the next Udaan 2.0, which is going to connect 120 new destinations
04:13and serving 4 crore passengers annually in the next coming years. And this is a clear invitation
04:20to global airlines to serve the rapidly growing regional transport market in India. So let us
04:26go ahead for fly to India, fly in India and fly with India. And along with the passenger
04:32moment, our cargo sector is also thriving, presenting immense opportunities across various industries.
04:39By 2047, we aim to handle 21 million metric tons, a six-fold increase solidifying India's
04:46position as a global logistics powerhouse. India is becoming a key export hub for electronics,
04:52especially in high valued products like actual devices and other electronics. And now, today,
04:58we are having a hundred billion dollar semiconductor market and 500 billion electronics manufacturing
05:04industry projected in the next five years. This highlights our growing role in global supply
05:10chains, opening huge opportunities for air cargo sector. And India's diaspora of 35 million
05:16people worldwide is driving a strong demand for Indian products. It is heartening to see how spices
05:23from India are loved not only by our diaspora, but by people elsewhere. And Indian mangoes are gaining
05:30international fame and highly quality perishables like seafood, dairy and flowers are also growing in
05:37demand across the Middle East, Europe and North America. With the best skilled manpower, a strategic location
05:43bridging the West and the East, and the rapid growth in air traffic, India is perfectly positioned to become
05:50global MRO hub. And by January 2018, and India, by expanding at three times the global rate with a projected annual rate of
06:018.9 percent, we are reaching the global MRO market of four billion dollars by 2031. And to support this MRO network,
06:09we are permitted 100 percent FDI via the automatic route of a transparent royalty-free land allotments for MRO
06:17facilities within our airport spaces. And in the next 10 to 15 years, our aviation industry has the potential
06:24to evolve into 10 billion dollar market by domestically manufacturing structural components, electronic systems and avionics.
06:32Honorable Prime Minister Sri Narendra Modiji's vision of Make in India is bringing this transformation to life.
06:39The two final assembly lines, one of C-295 military aircraft, one for H-130 and H-125 helicopters,
06:47all these are giving a huge boost to the Make in India initiative. And this is a powerful testament to the quality,
06:55reliability and innovation of our homegrown talent. And looking ahead, we have 2,200 aircraft orders which are expected to join our fleet in the Indian skies.
07:06And I believe that this creates unprecedented opportunities for manufacturers, MRO providers and the lessors.
07:14With 80 percent of Indian commercial aircraft fleet being leased, this reform translates into estimated $5 billion
07:21annual lease revenue opportunity for global lessors and financiers. And this we are further facilitating
07:29with the landmark legislation recently passed by the Indian Parliament, the Protection of Interest in Aircraft Objects Act 2025,
07:36which aligns us with the Cape Town Convention. Now India has taken a step further in strengthening its aircraft leasing system.
07:44And on top of that, we have special gift city, which has been the brine child of our Honourable Prime Minister,
07:50Narendra Modiji, which has got the right ecosystem for flourishing global leasing business in the country.
07:57And by providing legal certainty and enforceability of rights, this law significantly reduces the risk premium for lessors and financiers,
08:05potentially ruining leasing costs by an estimated 8 to 10 percent. The enactment had a great impact.
08:12India's aviation working group AWG score jumped by 10 points, reflecting enhanced confidence among global stakeholders.
08:21And I must also reaffirm that sustainability is a value which is deeply embedded in Indian ethos, resonating through our ancient scriptures and traditions.
08:31The 3500 years old Atharva Veda's Prithvi Sukta has a hymn dedicated to the Earth,
08:38Mata Bhoomi Putroham Prithivyaha, which means Earth is our mother and we are her children.
08:45Resonating this sentiment, today more than 80 of our airports operate on 100 percent green energy and by the end of the year we are going to touch 100.
08:54And the Bangalore Airport is a good example, being the first in Asia to achieve carbon neutrality.
09:00And with over 750 million metric tons of available biomass, India has the capacity to become a global leader in SAF production.
09:10And we have set ambitious SAF targets also, 1 percent blending by 2027, 2 percent by 2028 and 5 percent by 2030, reflecting our commitment to a greener future.
09:22I invite global stakeholders to seize this opportunity and collaborate with India while SAF is still in its nascent stage.
09:30Let us work collectively to decarbonize aviation and shape a more sustainable future for global aviation.
09:37And also, empowerment and respect of women is deeply rooted in Indian culture.
09:43As our ancient saying goes,
09:45Yatra Naryastu Pujyante, Ramanta Tatra Devata, where women are honored, prosperity follows.
09:52Under the visionary leadership of our honorable prime minister, we are striving to make aviation model a model of inclusivity.
10:00Today, 15 percent of Indian pilots are women, a remarkable achievement compared to the global average of 5 percent.
10:07And with IATA's goals, we have issued an advisory encouraging all stakeholders to increase the participation of women in the aviation workforce to 25 percent in the coming years.
10:18Together, let us ensure that aviation not only connects, but also empowers.
10:23And in conclusion, I extend my heartfelt congratulations to IATA on 81 years of exemplary leadership representing 350 airlines and over 80 percent of global air traffic.
10:35Also, my sincere gratitude to Indigo, which has the world's youngest fleet, for organizing this IATA AGM in India after a hiatus of four decades.
10:45And let me conclude by inviting all of you to Wings India 2026, Asia's largest and most prestigious civil aviation event to be held at Begumpet Airport in Hyderabad from January 28 to 31, 2026.
11:00By fostering open dialogue among global leaders, CEOs, government authorities and industry players, Wings India 2026 will explore opportunities not only for India, but also for the global aviation sector.
11:15With the clarion call, Indian aviation paving the way for future from design to deployment, manufacturing to maintenance, inclusivity to innovation and safety to sustainability.
11:27And most importantly, I would like to express my heartfelt gratitude to the Honourable Prime Minister of India, Sri Narendra Modi ji, for graciously taking time to join us on this esteemed platform.
11:39Sir, we are eagerly awaiting your guidance and inspirational words, which will undoubtedly serve as a guiding light, providing us with a clear roadmap to propel the growth of aviation sector to new heights.
11:54Jai Hind.
11:55Jai Bharat.
12:08Honourable Xi, 90G.
12:09On behalf of all delegates for presenting your views and valuable insights to all of us.
12:16And now, ladies and gentlemen, it's my privilege, an important moment, candidly, a bit emotional for Indigo, to invite Sri Modi ji Honourable.
