Noida International Airport to give new dimensions to the economy of the city

With the arrival of Jewar International Airport in the region, emerging hubs of Noida and Greater Noida will be taking the Indian economy to new heights.

The development will give much more momentum to the service sector of the city, says Sushil Kumar Jain, President Sector 18 Market Association Noida and Convener of Confederation of All India Traders Delhi NCR.

He said that commodities, goods and services, trade and foreign investment will get a boast with opening of Jewar International Airport and the cities located within 50 kms of the airport will become a major industrial and trade hub.

Sushil Kumar Jain said that according to an estimate, at least in the coming years, new business of four to five lakh crores will be available in the city.

“As Connectivity is paramount in this century, hence airport can be called the Growth pillar of New India, welcoming business, ideas and investment,” he added.

Moreover, schemes such as UDAN brings airline services closer to several cities. A projected analysis done for the city by using the growth and business prospects of the city by travel in general and aviation in particular estimates that Noida-Greater Noida will have a business of over Rs 5 lakh crore in the coming years.

Due to the arrival of the airport, multinational companies will be established in abundance. Along with this, the construction of Film City, the development of a bullet train station and the connectivity of the Jewar airport to the Delhi-Mumbai Expressway, will lead to the establishment of a variety of industries in the city. Due to its rapidly increasing need, about 25000 passengers will travel daily, for which at least 15000 to 20000 rooms will be needed daily, for which the establishment of five star hotels and other hotels will also be needed simultaneously.

Various types of businesses that connect with the airport will also be established in the region. According to an estimate, only hotel business will get at least more than 100 crore daily business. Along with this, at least 10 crore business of cab taxis etc. will be generated daily. The sale of various items of at least two hundred and fifty crores a day will provide business to the major commercial markets of the city.

Production in the industrial sector will generate business of at least 500 crores daily. Sushil Kumar Jain also outlined that as the Jewar airport capacity increases from about 25000 passengers to lakhs of passengers daily from other cities during the next 5-10 years, various economic activities in the city will continue to grow and business worth more than five lakh crores will be available every year in the next 5 years due to Jewar International Airport.

Moreover, annual passenger traffic in the city will be almost five times the population of the city. A city with a population of crores like Delhi or Mumbai already has traffic of crores. Over the next decade or two, annual airport passenger traffic could increase to double the number of passengers per year.

Investing in airports (and multi-use parks) yields enormous benefits, both directly and indirectly. Given the large construction and build-up requirements, airport construction can boost job creation, provide impetus to the construction and related materials (steel, cement, aviation equipment) industry, and allow greenfield airports to start work. It can create significant value for landlords. The economic impact of airport construction is estimated to be about 10 times the capital invested in an airport.

Airports become gateways to global connectivity and form strategic economic hubs. Airport development in a city leads to the creation of commercial and residential real estate close to the airport. Airports change the economic geography of a city by spurring development around a transportation hub. A well-designed aerotropolis around an airport can become an economic engine in itself.

The massive developments around Delhi, Bangalore, and Hyderabad point to how economic growth is kick-started and sustained by the airport. Such development creates new infrastructure and connectivity that fuel economic activity, jobs and wealth.

An airport a nodal for intra-city connectivity with different modes of transport (heli-taxi, railway, metro, bus, auto, private vehicle connectivity, etc.) to reduce cost and time for passenger and freight transportation can become a point. Re-imagining the future of our urban economic geography requires the cooperation of citizens, local businesses and various ministries, both at the Center and in the States.

As we know that it is proposed to be inaugurated by Prime Minister Shri Narendra Modi on the next 25th of November so surely the city will soon see a record breaking pace of development.