Business EconomyPosted at: May 9 2026 3:51PM


PHDCCI welcomes Rs 5,000 cr ECLGS package for airlines amid West Asia crisis

New Delhi, May 9 (UNI) The PHD Chamber of Commerce and Industry (PHDCCI) welcomed the government's decision to approve a Rs 5,000 crore emergency credit support scheme for airlines under ECLGS 5.0 to address the financial and operational stress arising from the ongoing West Asia crisis.
"The Government's swift intervention through the Rs 5,000 crore emergency credit scheme demonstrates strong policy responsiveness towards one of the most critical pillars of India's services economy,"Rajeev Juneja, President of PHDCCI, said.
Juneja noted that aviation is the backbone of tourism, trade and business mobility and supporting airline stability at this juncture will have a cascading positive impact across the broader economy, including hospitality, travel services and employment generation.
PHDCCI said that the announcement closely aligns with key recommendations made in the recently released report "Impact of the West Asia Conflict on India's Tourism, Aviation & Hospitality Sectors."
It highlighted the urgent need for targeted financial and policy support measures to stabilise India's aviation and tourism ecosystem amid geopolitical disruptions.
The ECLGS 5.0 scheme will provide targeted credit support to Indian airlines facing financial stress due to rising fuel costs, operational disruptions, and global airspace challenges.
The scheme aimed to improve liquidity, ensure operational stability, and support the aviation sector with government-backed credit guarantees.
Anil Parashar, Chair of Tourism & Hospitality Committee, PHDCCI, said," The recommendations outlined in the PHDCCI Tourism & Hospitality Resilience Report specifically emphasised the importance of financial resilience mechanisms and liquidity support for aviation and tourism stakeholders during periods of geopolitical uncertainty."
He noted that it is a positive step towards safeguarding connectivity, sustaining tourism flows and maintaining economic stability.
Ranjeet Mehta, CEO and Secretary General of PHDCCI, said, " The current geopolitical situation has highlighted the deep interdependence between aviation connectivity and tourism growth."
"Timely financial support measures such as this will help airlines maintain operational continuity, preserve consumer confidence, and minimise disruptions across the travel ecosystem. Going forward, continued collaboration between government and industry will be essential to strengthen long-term resilience and competitiveness," Mehta added.
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