In a historic comeback after four decades, India is once again hosting the prestigious 81st Annual General Meeting (AGM) of the International Air Transport Association (IATA) and the World Air Transport Summit (WATS). Held from June 1 to 3 at Bharat Mandapam in New Delhi, the summit signifies a major recognition of India’s evolving position in global aviation.

PM Modi to Deliver Keynote Address at IATA 2024

The event is set to reach a highlight on June 2, when Prime Minister Narendra Modi is scheduled to deliver the keynote address at 5 PM, underlining the importance the Indian government attaches to this global aviation platform.

With over 1,700 delegates, including top airline CEOs, global media representatives, and senior government officials, the summit presents a rare confluence of global aviation leadership on Indian soil.

IndiGo as Host Airline

This year, IndiGo, India’s largest airline, serves as the host carrier, working in collaboration with IATA to welcome a global audience. The event marks a moment of pride for Indian aviation stakeholders, as it has not been hosted in the country since 1983.

IATA, representing nearly 350 airlines, which account for over 80% of global air traffic, emphasised India’s growing stature in the industry. According to Willie Walsh, Director General of IATA, “India has experienced record aircraft orders, rapid passenger growth, and infrastructure development. It’s only fitting that we return after more than 40 years.”

India’s Aviation Sector Transformation

India has emerged as a rising star in global aviation. The domestic aviation sector directly employs around 3.7 lakh people and contributes USD 5.6 billion to the national GDP. When indirect employment and tourism-related activities are factored in, the sector supports 7.7 million jobs and generates USD 53.6 billion, approximately 1.5% of India's GDP.

These numbers reflect a dramatic shift in scale, scope, and strategic importance over the past decade.

Key Focus Areas at the Summit

The World Air Transport Summit (WATS), which follows the AGM, is designed to be a platform for discussions on the biggest challenges and opportunities facing the aviation industry today. Among the main agenda topics:

• Financial outlook for the global airline industry

• Sustainable Aviation Fuel (SAF) production and adoption

• Energy security and net-zero emission financing

• India’s approach to regional connectivity and airport infrastructure

These topics reflect pressing global concerns, especially amid rising calls for greener aviation policies and post-pandemic recovery.

UDAN Scheme and Regional Connectivity: A Parallel Initiative

Coinciding with the high-profile summit, India has also given a boost to regional air connectivity under the UDAN (Ude Desh ka Aam Naagrik) scheme.

On May 31, Prime Minister Modi virtually inaugurated:

• Satna Airport (developed at a cost of ₹36.96 crore)

• Upgraded Datia Airport in Madhya Pradesh

These projects aim to connect underserved areas like Bundelkhand and Baghelkhand, enhancing both cultural and economic linkages.

Satna Airport is especially expected to emerge as a key regional hub, offering air access to towns like Chitrakoot and Maihar, known for both pilgrimage and industrial activity.

Civil Aviation Minister Ram Mohan Naidu and Minister of State Murlidhar Mohol participated in ceremonial events at the respective locations. Their speeches reiterated the government’s commitment to expanding India’s aviation network and boosting regional development.

India’s Strategy to Become a Global Aviation Leader

The convergence of the IATA AGM, summit discussions, and regional airport inaugurations demonstrates how India is strategically positioning itself as a global aviation powerhouse.

Through a combination of:

• Policy support

• Infrastructure investments

• Private sector participation

• International engagement

India is striving to create a seamless aviation ecosystem that connects not just metros, but tier-2 and tier-3 cities as well.

Indian Airlines Participate in IATA 2024

Key Indian carriers attending the AGM include:

• Air India

• IndiGo

• SpiceJet

Their presence alongside top global airlines signals India's growing integration into the global aviation framework.

Global Spotlight on India’s Aviation Ambitions

With New Delhi as the venue and Bharat Mandapam as the symbolic platform, the world is watching how India charts its aviation future.

The event not only celebrates India's recent milestones in air transport but also sets the stage for future collaborations, innovations, and reforms in this high-growth sector.

Conclusion

The hosting of the 81st IATA AGM and the World Air Transport Summit in India after 42 years is a watershed moment for the country’s aviation industry. With PM Modi's involvement, the spotlight is firmly on India’s growth trajectory and its vision to become a leading aviation hub globally.

As India simultaneously expands regional air infrastructure and embraces sustainable aviation, the country is clearly aiming to balance growth, connectivity, and environmental responsibility—all under the global gaze.

The Upcoming IPOs in this week and coming weeks are Ganga Bath Fittings, Victory Electric Vehicles International, Wagons Learning.

The Current active IPO are 3B Films

Start your Stock Market Journey and Apply in IPO by Opening Free Demat Account in Choice Broking FinX.

Join our Trading with CA Abhay Telegram Channel for regular Stock Market Trading and Investment Calls by CA Abhay Varn - SEBI Registered Research Analyst.