On November 25, 2021, Prime Minister Narendra Modi laid down the foundation stone for the Noida International Airport, also known as Jewar Airport. The construction work for the Jewar Airport project has already begun, and it will become operational by 2024. Once the airport becomes operational, Uttar Pradesh will have five international airports. And, it’s hard to believe that this is the highest number for any state in India. With the creation of Jewar Airport, the government of India is expecting to give a great flip to the economy of the region.
Spread across an area of 1,334 acres, the Jewar Airport is being developed by Yamuna International Airport Private Limited (YIAPL), a 100% subsidiary of Swiss concessionaire Zurich International Airport AG. The overall cost of the Noida International Airport project is estimated at ₹ 29,560 crores and the construction work will be completed in four phases over a period of about 30 years.
Besides this, the Jewar Airport is claimed to be the fourth largest International airport globally, and it will be the second International aerodrome in Delhi NCR after the Indira Gandhi International (IGI) Airport.
Now, let’s talk about the importance of Jewar Airport!
Importance of Jewar Airport
Most experts praise the Jewar Airport project, stating that the existence of the airport will significantly boost the economy of Uttar Pradesh in terms of exports, investments, job creation, and much more. Having said that, the below-mentioned are the top 5 ways in which Jewar Airport will prove to be an important asset.
1. Enormous investments
The foremost benefit of Jewar Airport is that it will create enormous investment opportunities within Uttar Pradesh. The project is likely to attract massive investment opportunities in the region with a long-term economic benefit. You will be surprised to know that officials estimate that the airport project will bring in an investment worth ₹ 35,000 crores. In the initial years after completion, the Jewar airport is expected to yield investments worth ₹ 10,000 crores for the neighbouring areas.
The Jewar Airport is located about 72 km from Delhi’s Indira Gandhi International Airport and 40 km from the multi-modal logistics hub at Dadri. Talking about its strategic location, many corporations will look to invest in the region. The massive investments could be related to the development of real estate in nearby areas, trade centres, and more.
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2. Job creation
Besides attracting huge investments, the Jewar airport will create great job opportunities too. According to the Civil Aviation Minister, Jyotiraditya Scindia, the strategic location of the airport will create job and employment opportunities for at least 1 lakh people. One thing to note here is job opportunities will not only come from the construction of the Jewar Airport but also when the airport becomes operational.
The creation of Jewar Airport is expected to boost the state’s income from tourism in the state. After construction, the airport will ease travelling for residents of Noida, East Delhi, Greater Noida, Meerut, Ghaziabad, and nearby west UP districts. In addition to this, with a target of over one crore footfall every year, the Jewar Airport will give an enormous boost to tourism in Mathura and Agra.
4. Exports and trade
Another major significance that the Jewar Airport project adds to the list is boosting exports and trade. It is worth mentioning that the Noida International Airport, i.e., Jewar Airport, will be the first-ever airport with an integrated multi-modal cargo hub. This will have a significant impact as it will boost the shipment activity and offer a boost to exports and imports as well.
Moreover, the extensive size of the airport will also allow a high volume of shipments which will, in turn, offer a boost to the economy of Uttar Pradesh. Also, it will directly connect a major centre of export with international markets and will allow the farmers of this region to export perishable goods like fish, fruits, and vegetables.
5. Boost in the real estate market
Finally, the Jewar Airport is also likely to boost real estate development and sales in the Greater Noida region substantially. The airport project has been considered a critical project by experts tracking the real estate industry. They believe that the project will lead to a surge or overflow in demand for real estate in Noida, Yamuna Expressway, Greater Noida, and nearby areas.
All these regions were previously speculator havens and required significant impetus in order to attract end-user demand. For an area to become liveable and end-user-centric, an infrastructure project like Jewar Airport will surely help kick-start more real estate developments involving commercial, housing, hospitality, and retail projects.
Jewar Airport, also known as Noida International Airport, will act as one of the major pillars of the National Gati-Shakti Master Plan. With all the benefits listed above, Jewar Airport will definitely prove to be a game-changer for Uttar Pradesh and its economy.
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