Global aviation is a highly diversified industry, and has many complex and inter- connected players and sub-industries keeping the economic engine humming. One key aspect of aviation is the sector of Aircraft Leasing. Today, around 50% of the commercial airliner fleet is leased compared to a small percentage few decades back :(KPMG, Aviation Fleet Focus, January 2021). The Indian market plays a key role by virtue of being the 7th largest aviation market, and set to become the 3rd largest by 2024, and having the world’s 3rd largest order-book of 1028 aircraft (Indian Ministry of Civil Aviation, February 2021). Given India’s position in the aviation global market, the Government of India has been working on a frame-work of implementing various measures to enable growth of a ‘local’ aircraft leasing industry. Aircraft leasing plays a vital role in any region aspiring to grow its aviation footprints, since capital control is mainly in the hands of aircraft leasing 2 companies and other entities involved in financing of aircraft. It is interesting to note that the Indian government has initiated various measures focusing on aviation and particularly on aircraft leasing, including formation of an International Financial Services Centre (IFSC), the first of its kind in India. This research project will focus on the practical aspects of this initiative in terms of going beyond simply taxation and legal matters, and review from an ‘Ease of Doing Business’ (EoDB) perspective as to the measures taken, steps underway and how these changes can shape the growth of this industry in India. It’s aim is to provide a practical road-map towards enabling such an Industry to be grown in India, with all its myriad challenges. It will propose practical steps towards enabling the acceleration for becoming an Aircraft Leasing powerhouse for India. It is expected that a study like this will help Indian aviation industry, the Indian sub- continent in general, as well as be a key data point for other merging economies with ambitions of entering the aircraft financing and leasing industry.
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