Archive · 12 Sep 2026
GIFT City seeks larger share of aircraft leasing business
GIFT City is an Indian financial centre that wants to handle more aircraft leasing.
Leasing means renting an aircraft instead of buying it outright.
Indian airlines have traditionally arranged these deals through places outside India.
GIFT City says new rules and financial structures could make it easier for banks to support aircraft purchases.
The number of aircraft leased through GIFT City increased from 17 in December 2023 to 237 by June.
The centre is also becoming involved in ship leasing.
Its officials want companies to consider GIFT City when arranging financing for aircraft and ships.
GIFT City is also talking with semiconductor companies about setting up back-office work there.
Gujarat is developing several semiconductor manufacturing facilities.
GIFT City aims to attract more aircraft and ship leasing activity to India.
About 80% of India’s commercial fleet is currently leased through overseas centres.
Aircraft leased from GIFT City rose from 17 in December 2023 to 237 by June.
The centre had about 37 aircraft lessors and 38 ship lessors as of June.
GIFT City is also exploring semiconductor companies’ back-office operations in Gujarat.
- Who
- GIFT City, led by Sanjay Kaul, and aircraft and ship leasing companies.
- What
- GIFT City is seeking to expand its aircraft and ship leasing business while exploring semiconductor back-office operations.
- When
- Aircraft leasing increased from December 2023 to June; the article also cites a September 2025 report and ship-leasing data for June 2026.
- Where
- GIFT City in Gujarat, India, with aircraft leasing traditionally routed through overseas centres including Ireland, the Cayman Islands, Singapore and Tianjin.
- Why
- To capture more leasing and financing activity as India’s aviation market and aircraft order books expand, and to broaden GIFT City’s financial-services ecosystem.
- Aircraft leased from GIFT City
- 237 as of June, up from 17 in December 2023
- Aircraft leasing entities
- Around 37 operating from GIFT City as of June
- India’s overseas leasing share
- An estimated 80% of the commercial fleet is financed and leased through overseas entities
- Ships leased through GIFT City
- 42 in June 2026, up from three in December 2023
- Ship lessors
- Around 38 operating from GIFT City
- Aircraft leasing framework
- Introduced in 2021; it permits a special purpose vehicle to own the aircraft
- Semiconductor projects mentioned
- Facilities or projects by Tata Electronics, Micron, Crystal Matrix Ltd and Suchi Semicon Pvt. Ltd