Daily News - Friday, 24 April 2026
India to Scale to 350 Airports by 2047 (The Hindu)
Amidst ongoing geopolitical tensions that have disrupted global routes and raised operational costs, Sharad Kumar, Chief Advisor of the Airports Authority of India (AAI), stated at the Airport360 Expo 2026 in Mumbai that India retains strong structural advantages in aviation. He highlighted that demand growth and infrastructure expansion will enable India to scale to around 350 airports by 2047, under the guidance of the Ministry of Civil Aviation. Kumar noted that government schemes such as UDAN have already strengthened regional connectivity, and the next phase will focus on long-term viability, efficiency, and network integration. The AAI’s strategy also aims to reduce dependence on foreign hubs for international traffic, thereby capturing greater value across airlines, MRO (maintenance, repair, overhaul), cargo, and airport-led services. With India’s aviation market projected to grow at double-digit rates, the sector is positioned to absorb shocks from global conflicts while enhancing domestic resilience. This aligns with the government’s broader infrastructure vision, ensuring that aviation contributes significantly to GDP growth and trade facilitation.
Indian Delegation in Washington Push for $500 Billion Indian Investment Across US Energy & Tech Sectors (Fortune India)
An Indian trade delegation is visiting Washington this week to finalize a bilateral trade deal, following a 40-minute call between PM Narendra Modi and US President Donald Trump that reaffirmed the Comprehensive Global Strategic Partnership. According to US Ambassador Sergio Gor, the framework includes a tariff reduction on Indian goods from 50% to 18%, alongside India’s commitment to invest USD $500 billion (INR ₹41.6 lakh crore) in US sectors over five years, focusing on energy, aviation, metals, and technology. A new India-USA Trade Facilitation Portal has been launched to connect exporters and importers directly. The timing coincides with a landmark USD $166 billion (INR ₹13.8 lakh crore) tariff refund program in the US, after the Supreme Court ruled 6-3 that Trump exceeded his authority under IEEPA in imposing peacetime tariffs. Over 330,000 importers are eligible for refunds, making this one of the largest repayments in US trade history. Despite the setback, the Trump administration is exploring Section 301 of the US Trade Act to reimpose restrictions, with probes already initiated into 16 trading partners including India and China.
India’s Gross FDI Hits USD $90.8 Billion, Net Inflows Sink to USD $0.5 Billion (Financial Express)
India’s gross foreign direct investment (FDI) rose to USD $90.8 billion (INR ₹7.27 lakh crore) on a 12 month trailing basis as of January 2026, up from USD $80.3 billion (INR ₹6.43 lakh crore) a year earlier, according to Morgan Stanley. However, net inflows collapsed to just USD $0.5 billion (INR ₹4,500 crore), driven by profit repatriation of USD $54.5 billion (INR ₹4.36 lakh crore) and outward investments of USD $35.7 billion (INR ₹2.86 lakh crore) by Indian firms. The services sector absorbed the largest share at 45.9%, with IT and BPO inflows rising to USD $12.99 billion (INR ₹1.17 lakh crore), while manufacturing accounted for 25.3%, led by autos (USD $2.16 billion / INR ₹19,440 crore) and electronics. Data centres emerged as a major greenfield investment destination, reflecting India’s expanding digital infrastructure. FDI inflows remain concentrated, with Singapore (36.7%), US (17%), and Mauritius (11.1%) together contributing over 65% of capital. Within India, Maharashtra and Karnataka continue to dominate due to infrastructure and ease of doing business, while the Ministry of Commerce & Industry and DPIIT monitor the sharp decline in net flows as a risk to external stability.
India Ranks 6th Globally in Ultra-Wealthy Population and India’s Billionaire Count will Increase 51% by 2031 (CNBC TV18)
India now ranks 6th globally in ultra-high-net-worth individuals (UHNWIs), with 19,877 people holding net assets above USD $30 million (INR ₹250 crore), accounting for 2.8% of the global total, up from just over 2% five years ago. The Knight Frank Wealth Report 2026 projects India’s UHNWI population will grow 27% to 25,217 by 2031, while the billionaire count is expected to surge 51% from 207 to 313, raising India’s share of the global billionaire pool from 6.7% to 8%. Mumbai remains the wealth capital with 35.4% of UHNWIs, though its share has declined from 41% a decade ago, while Delhi (22.8%), Chennai, and Hyderabad have gained ground, reflecting decentralisation of wealth. Globally, UHNWIs rose to 713,626 in 2026, with nearly 89 new ultra-wealthy individuals created daily over the past five years. The report highlights India’s 63.4% UHNWI growth between 2021-2026, outpacing most major economies, driven by entrepreneurship, start-up ecosystems, equity market expansion, and family businesses evolving into institutional enterprises. Shishir Baijal (Knight Frank India Chairman) and Liam Bailey (Global Head of Research) emphasized that India’s wealth expansion reflects structural economic transformation under the Ministry of Finance and Ministry of Commerce & Industry, positioning India as a central player in the changing global wealth order.
