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ID 222942169 Photo: Timon Schneider | Dreamstime.com

Adani Group, India’s rapidly growing logistics conglomerate, has now established a subsidiary to own and operate aircraft.

Udanvat Leasing IFSC has been registered to function from Gift City, in Gujarat State, a modern business centre that offers liberalised corporate regulations and tax incentives.

While its specific business objectives have not been announced publicly by Adani, the move has sparked speculation in the industry. Sources keeping a close watch on Adani’s business strategies believe the Ahmedabad-based group is looking at a foray into ...

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