India to get 100 new airports by 2024, other investments to revive economy

New Delhi : In a plan to revive economic growth, India is planning to open 100 new airports by the end of 2024, said a news report by a leading daily.

In a meeting last week to review infrastructure needed by 2025, a proposal of 1000 new air routes was placed to connect smaller towns and villages. Steps to start a plane-lease financing business in the country was also discussed, people close to the matter 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.

Last month, the government had slashed corporate tax, putting India on par with some of the lowest in Asia, to help compete with the likes of Vietnam and Indonesia for investments amid global trade tensions.

The proposal by India's state think tank also includes boosting the number of locally trained pilots to 600 a year and double the domestic aircraft fleet to 1,200 during the period, the people said.

The Indian government has also committed an investment of 1 trillion rupees in regards to building and development of airports in the coming five years.

India will also encourage the use of drones -- for which it announced a policy this year allowing unmanned vehicles to fly beyond the line of sight -- and sees the number of legal drones reaching a million by 2024, the people said. The country will prepare drone corridors by 2021, and allow delivery of goods by drones by 2023, they said.