India’s New Airports Stuck Again

DECODE THE NEWS

License Turbulence For India’s Two Upcoming International Airports 

India has been eagerly anticipating the launch of its two much-hyped aviation projects — Navi Mumbai International Airport (NMIA) and Noida International Airport (NIA). Both were billed as the much-needed pressure valves for Mumbai and Delhi’s overburdened airports. But while the promises were sky-high, the reality remains firmly grounded.

Despite dominating headlines for years, neither NMIA nor NIA has managed to lock in an official opening date.

Take NMIA, for example. In December 2024, things finally looked promising — an IndiGo A320 performed a commercial flight validation test, creating a buzz that operations were imminent. But fast forward six months, and the only thing flying is a fresh batch of revised deadlines.

Noida International Airport faces the same bureaucratic barricade. All the high-decibel announcements mean little until the green light comes from government authorities.

So what’s the holdup?

According to industry expert CK Govil, the issue is painfully simple, “The government has to give permission, a license for them to operate these airports. They have not given that kind of permission.”

To get an airport running in India, it’s not enough to pour concrete and install scanners. You need two critical clearances: one from the Bureau of Civil Aviation Security (BCAS) and another from the DGCA. Miss one step, or fall short on standards, and you're right back at square one.

So, as passengers crowd existing terminals and airlines juggle for slots, here’s the real question: How much longer can India afford to keep its new airports waiting on the runway?

BUILD ON BLOCKCHAIN

Blockchain: A Cop That Stops Goods from Going Rogue

You open the packet of your favourite Darjeeling tea you picked up from a local shop, and you look forward to a relaxing evening sipping it.

The tea comes to a boil, you strain it into a cup and bring it to your living room where a plateful of hot pakodas awaits you to complete the moment. As soon as you take your first sip, you instantly realise it doesn’t have the satisfying taste of your regular tea. 

You take a look at the packet again. It looks original. But you're reasonably sure it's a fake, though you can't prove it.

Tracking the Truth

The lack of transparency and proper regulations in supply chains is considered to be the biggest reason fake products are reaching our homes. But with blockchain, transparency in supply chains is no longer a distant dream. And it works flawlessly. Even for an ordinary packet of tea.

Here is how: A tea packet, part of the blockchain-powered supply chain, has a barcode that you can scan with your phone to check its authenticity. The scan result of an original Darjeeling tea packet should ideally give you its detailed journey of the tea — from its provenance in the hills of Bengal where it was grown, to the warehouses where it was stored, all the way to the shop or supermarket you bought it from. Absolutely no gaps.

This series is brought to you in partnership with Algorand. 

CORE NUMBER

$824.9 billion

That’s the total value of India’s exports in FY 2024–25, a record high according to the Federation of Indian Export Organisations (FIEO). This includes $387.5 billion in services, led by IT and travel, and $437.4 billion in goods, with non-oil merchandise at $374.1 billion. To sustain this momentum, FIEO recommends expanding to new markets, supporting small businesses, and investing in digital trade tools. But with rising protectionism, such as the U.S. imposing a 27% tariff and the EU’s new green compliance rules, Indian exporters—especially Micro, Small, and Medium Enterprises—face mounting pressure to meet complex regulatory demands across global markets.

Export Relief Restored. The government has restored crucial tax benefits for exporters using duty-free import schemes and those operating in designated export zones, effective June 1. The move reverses a four-month suspension that had disrupted pricing for many small exporters. These benefits fall under the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme which helps offset hidden costs like electricity duties that are not refunded otherwise. With Rs 18,233 crore set aside for this year, the tax benefit restoration supports over 10,000 product categories.

Govt Rushes Road Safety Audit. In 2023, India recorded 480,000 accidents. That’s 687% more deaths than China, which recorded 61,000 deaths, even though China has a more extensive road network. Because of India’s grim data, the Centre has fast-tracked an urgent audit of the country’s most dangerous highway stretches, i.e. the accident-prone black spots, per a Mint report. Experts say it’s not enough — the country also needs stronger law enforcement, better driver education, and technologies stemming from automation and artificial intelligence for speed enforcement and vehicle tracking.

Attend Class, or Get Deported! The US Embassy in India has issued a new advisory to international students studying in the country – skipping classes can now cost them their F-1 visa. Indians are the second largest nationality among international students in the US. Already, this is an uncertain time for students, as the US had previously deported many for participating in political activism and protests. As well, another recent report said that the US had issued a record number of F-1 visa denials – 41% of total applications – last year.

Bengaluru Goes Global! Bengaluru has earned a coveted spot among the world’s top 12 tech powerhouse cities, alongside San Francisco, New York, Shanghai and London, according to real estate services firm CBRE’s 2025 Global Tech Talent Guidebook. With over one million tech workers and a 12% job growth since 2018, it now rivals global hubs in AI development. Bengaluru also led India with $3.3B in VC funding across 140 deals in 2024. CBRE lauds its deep talent pool, cost edge, and innovation-ready ecosystem, while cities like Delhi-NCR, Mumbai, Ahmedabad, and Jaipur emerge as strong contenders.

PODCAST

On Episode 592 of The Core Report, financial journalist Govindraj Ethiraj talks to Victor Vanya, Director and Co-Founder at EMA Solutions. We also feature an excerpt from our extended interview with Algorand’s Anil Kakani and Nikhil Varma.

• Why playing Trump tariffs is dangerous when valuations are tight and growth is slow

• India must be transparent in terminating business contracts like Celebi

• Build on Blockchain

• Tesla sales dive again in Europe by 49%

• India’s energy markets are going haywire because of unseasonal rains and lower than expected demand

👥 THE TEAM

✍️ Zinal Dedhia, Salman SH, Kudrat Wadhwa | ✂️ Rohini Chatterji | 🎧 Joshua Thomas