India’s international financial services centre at the Gujarat International Finance Tech City (GIFT City) has made its global mark by being named among the top three emerging business hubs in the world. Based near Ahmedabad, the GIFT city was ranked third in the list of the GFCI report, which has highlighted 15 centres that are likely to become more significant in the next few years.
In another significant move, GIFT city based leasing company established under the Aatmanirbhar Bharat Abhiyan of the Government of India Vman Aviation has signed first aircraft purchase agreement with Airbus Helicopters, marking a new chapter in Indian aviation industry eyeing a chunk in the leasing market.
Pradeep Singh Kharola, Secretary, Ministry of Civil Aviation (MOCA) presided over the signing of the purchase agreement between Vman Aviation, GIFT City, Gandhinagar and Airbus Helicopters SAS (Marignane, France). Vishok Mansingh, CEO, Vman and Remi Maillard, President, Airbus India and Managing Director, South Asia region signed the agreement. Sanjeev Kumar, Chairman AAI and Amber Dubey, Joint Secretary, MoCA along with other senior officials were present during the signing agreement.
Congratulating both the companies, Pradeep Singh Kharola, Secretary, MoCA said, “The aircraft purchase signing is a landmark event in the Indian aviation history. This agreement is the result of the efforts put in for the last 4-5 years to create a viable leasing & financing ecosystem in the country. This is a new business segment coming to India and the Government of India shall continue to provide all possible help to promote leasing activities in India under the Aatmanirbhar Bharat Abhiyan.”
Under the Aatmanirbhar Abhiyan, GIFT IFSC, with various incentives from the government of India and low set up costs, has become very attractive for lessors. They can leverage the fast growing civil and military aviation market in India and abroad.