Indian Duty Free on a new high

India’s population—already the world’s largest at more than 1.4 billion citizens—is swelling, and its consumers are increasingly primed for the travel retail market. Higher disposable income is driving greater consumption. As an illustration of this, average monthly per capita spending more than doubled between 2019 and 2024, going from $29 to $62.

India is currently experiencing a steep growth curve in air travel. Between 2019 and 2024, its total air passenger volume increased by 5 percent. This growth is expected to accelerate to 9 percent CAGR through 2030, reaching more than 745 million passengers and making India the world’s third-largest air travel market in terms of passenger volume by 2030.

India already has a thriving aviation industry. Between 2014 and 2025, the number of operational airports more than doubled from 74 to 159, including flagships such as Bengaluru, to showcase the power of the Indian air travel sector through modern concepts and future-ready infrastructure. The government is targeting 350 to 400 functioning airports by 2047. More than $10.7 billion has been plowed into the effort, and it has already borne fruit.

Further, the government’s ongoing airport privatization program's plans to sell off selected airports by the end of 2025–2026 will present more travel retail opportunities, with private airport operators’ focus on commercial results and non-aero revenues. In addition, operators have the potential to boost their profits further by being able to build shopping complexes, offices, and conference centers on airport land.

India’s air carriers are also pushing the boundaries to meet growing demand for international travel and position the country as a core hub for global travel retail brands alongside others such as Dubai, Singapore, and Hong Kong.

Two of the country’s leading airlines—Air India and IndiGo—are expanding their fleets to serve more long-haul routes and cater to the increasing swing toward global travel. Since 2023, more than 1,000 new Airbus planes have been put on order.

GMR Aero has become the largest duty free operator in India and South Asia. This follows its commencement of operations of Delhi Duty Free outlets at Indira Gandhi International Airport (IGI), New Delhi, effective 28 July, 2025, as reported.

Ashish Chopra has been appointed CEO of GMR Airports Limited Group Duty Free Business, moving from his position as CEO Delhi Duty Free Services.

Delhi Duty Free, India’s largest airport-based duty free retail operation, has become a significant addition to GMR Aero’s expanding retail footprint. This addition complements its existing duty free operations at Hyderabad International Airport, Manohar International Airport in Goa, and Kannur International Airport in Kerala.

The inclusion of Delhi Duty Free positions GMR Aero as the largest duty free operator in India and South Asia, further strengthening its presence in the global airport retail landscape.

This development aligns with GMR’s long-term strategy to enhance passenger engagement, strengthen its commercial ecosystem, and create scalable retail models that serve both international travellers and global retail partners. The Delhi Duty Free business, and its portfolio of luxury, lifestyle, and speciality products, will continue to operate under the GMR Aero’s vision of delivering superior customer experience and operational excellence.

India’s air carriers are also pushing the boundaries to meet growing demand for international travel and position the country as a core hub for global travel retail brands alongside others such as Dubai, Singapore, and Hong Kong.

Two of the country’s leading airlines—Air India and IndiGo—are expanding their fleets to serve more long-haul routes and cater to the increasing swing toward global travel. Since 2023, more than 1,000 new Airbus planes have been put on order.

There is a fresh wave of investment in travel retail. Once, the airport shopping landscape was dominated by a fragmented mix of domestic retailers and discount-driven duty-free shops. Today a transformation has come from a small number of global–local partnerships and airport-integrated operators that are setting new standards in execution, experience, and scale to reshape the travel retail experience.

Two domestic powerhouses—Ospree Duty Free, a joint venture between Adani and Flemingo, and Delhi Duty Free Services (DDFS), operated by GMR and Aer Rianta International—are at the core of this shift. Global players including the Swiss firm Avolta and Germany’s Gebr. Heinemann have also entered the market, bringing international operating models, premium store formats, and bespoke global brand partnerships in their wake.

There is a growing concentration of control with airport–retailer integration, in which airport groups such as Adani, GMR, and BIAL co-own travel retail spaces through joint venture partnerships, helping them to retain value and influence over the end-to-end passenger experience.