Why are airlines expanding operations in India?

Despite being the third-largest aviation market in the world, India still holds enormous potential to grow in the field of civil aviation. At present around 20 percent of Indians are said to have traveled by flight and penetration is expected to grow exponentially over the next 15 years. There are around 700 commercial planes flying in India, with a majority of them being narrow-body aircraft. The number of aircraft is expected to nearly double to 1,200 in the next 5 years by 2027. The civil aviation ministry is also working on ways to make an international aviation hub for which Indian carriers will have to have more wide-body planes in order to carry international traffic.