Chennai: The Gujarat International Finance Tec-City (GIFT City) is setting its sights on capturing a significant share of the global aircraft leasing market. Currently, GIFT City boasts a portfolio of approximately 40 lessors, encompassing more than 220 aircraft and engines.
Global Market Context
The global aircraft leasing market, dominated by Dublin, was valued at $187 billion in 2025. A major boost for GIFT City came earlier this year with the formalisation of the international Cape Town Convention through the Protection of Interests in Aircraft Objects Act.
GIFT City's Vision
Sanjay Kaul, Managing Director and Group CEO of GIFT City, highlighted India's position as one of the fastest-growing aviation markets globally. "Currently, about 800–900 aircraft are being operated in India. Among the three major airlines, close to 2,200 aircraft are on order. Aircraft are flying in one place, while financing is happening elsewhere. Why shouldn’t that financing happen in India? As a first step, we want to bring that business to India through GIFT City. Gradually, leasing activities currently undertaken in countries such as Ireland, the UAE, and Singapore will also be carried out from India," he told reporters on Thursday.
Regulatory Framework
Kaul noted that the formalisation of the Cape Town Convention enables lessors to reclaim their assets (aircraft) more efficiently. "Recently, the International Financial Services Centres Authority (IFSCA) introduced another framework that separates the lessor from the lender. Under this framework, a Special Purpose Vehicle (SPV) structure acts as an intermediary," he added.
Under the recent amendment, Trust and Company Service Providers (TCSPs) can offer services to lessors by setting up SPV structures for aircraft leasing from GIFT IFSC.
Additional Information
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