Navi Mumbai’s Flight Of Fancy?

DECODE THE NEWS

Monsoon Test Looms Over Navi Mumbai Airport Debut: Will It Take Off?

On a warm March afternoon, I set out to visit the much-anticipated Navi Mumbai International Airport (NMIA), also known as the DB Patil International Airport, that has been in the works for many years but has been delayed by bureaucratic approvals and land disputes. Authorities have promised that the first phase of the airport, which will cater to Mumbai’s domestic flights, will be open in June. 

The drive from South Mumbai’s Lower Parel took about an hour and twenty minutes. The longish drive — in comparison to Santa Cruz and Vile Parle, where Mumbai’s two airport terminals currently operate from — began with the usual Mumbai cityscape with skyscrapers and swanky glass buildings giving way to the more industrial landscape near the Jawaharlal Nehru Port Terminal (JNPT) in Navi Mumbai, on the shores of the Arabian Sea. 

NMIA, located near Ulwe, the construction site, earlier occupied by villages, looked more like a developing town than the gateway to one of India’s largest aviation hubs.

The main access road is still under construction, with a highway being developed nearby, adding to the sense of incompleteness in the region.

Originally slated for an April inauguration, later pushed to May, the Adani Group, which is in control of the project, has confirmed the airport will be operational in June.  Still, visibly far from ready, can this airport really meet the June deadline? 

“Monsoon in Mumbai is already chaotic. Launching during this time will only add to the confusion. Better to wait, let the airport face a full rainy season, and ensure the roads and drainage hold up—no floods, no surprises. I feel it should be operational after the monsoon has hit the city,” Vijai Agrawal, ex-chairman of the Airport Authority of India, told The Core.

The Core has reached out to the Adani Group and will update the story if they respond.

What About The Existing Airports?

Mumbai’s Chhatrapati Shivaji Maharaj International Airport (CSMIA) is gearing up for a major upgrade. Terminal 1 (T1), which currently handles around 10 million passengers annually, will undergo renovation starting November 2025. The plan? Demolish the existing structure and build a brand-new terminal capable of handling 20 million passengers — a 42% capacity boost.

During the renovation, Terminal 2 (T2) — which handled 44.8 million passengers in 2024 — will take on the extra load alongside the soon-to-open Navi Mumbai International Airport (NMIA). 

By October 2025, the 10 million passengers who use CSMIA T1 are expected to shift to NMIA’s Terminal 1.

NMIA’s Terminal 1 is expected to reach full capacity of 20 million passengers by mid-2026, while Terminal 2, with a projected capacity of 30 million, will add muscle to the region’s aviation infrastructure.

CORE NUMBER

Rs 10 Crore

That’s the median annual compensation for non-promoter CEOs in India in FY25, according to Deloitte’s latest Executive Performance and Rewards Survey—up 13% from last year. The report finds that just 40% of CEO pay is fixed, while 60% is now tied to short- and long-term performance incentives. COOs and CFOs remain the next best-paid executives, earning close to Rs 4 crore annually. Meanwhile, wage hikes for employees have largely stayed in the single digits this year—especially across IT firms like Infosys, HCLTech, and Wipro—widening the gap between the corner office and the cubicle.

—👻 Ghost Ola Bikes? Ola Electric counted bookings for 10,866 third-gen e-scooters and 1,395 Roadster X motorcycles — models either yet to be delivered or launched — as part of its February “sales,” Bloomberg reported. While Ola claimed over 25,000 sales in its February 28 filing, VAHAN data reflected just 8,600 registrations. The Ministry of Road Transport and Highways (MoRTH) has now directed Ola to revise its data and clarify how many vehicles were actually invoiced and delivered. In a March 31 letter, MoRTH gave the company seven days to respond “to avoid any adverse action.” TheCore has seen a copy of these letters. 

— 🇨🇳🌏 China Strikes Back, the Rest Scramble. Even after US President Donald Trump threatened the country with 100% tariffs, China refused to budge on its previously announced retaliatory tariffs of 34% on the US, in response to Trump’s ‘Liberation Day’ tariffs. China isn’t alone. The European Union is currently deliberating on how hard to “punch back” without causing more harm to its consumers, as per a report by Reuters. On the other hand, Vietnam requested a 45-day delay, saying it would reduce its trade deficit with the US. Indonesia also announced concessions; South Korea is considering increasing American imports. India and the US are in talks about a potential bilateral free trade agreement too.

— 🥵 Too Hot to Handle! It is just the beginning of summer and North India is already facing a heatwave, unusually for this early in April. Temperatures crossed 40°C in states like Rajasthan, Gujarat, Punjab, and Haryana. Delhi logged its first heatwave on April 7, prompting the India Meteorological Department to extend a yellow alert. Experts warn of more extreme heat days ahead, thanks to climate change. The soaring temperatures are particularly concerning for farmers. Punjab Agricultural University  warned that the heat is 4–5°C above normal, with both day and night temperatures rising further. While Rabi crops are nearing maturity, late-sown vegetables and fruit crops are at.

—🤦🏽 Where’s My Phone? We’ve all forgotten things in an Uber. And this year’s Uber Lost And Found Index shows that Mumbai has tipped Delhi to become India’s most forgetful city, leaving things behind during their Uber rides. Delhi was in second place and Pune third in the list based on rider reports filed on Uber. Hyderabad was the most careful metro, according to the index. And the range of things forgotten in Uber includes everything from the usual keys, wallets and phones to the bizarre, such as a dog bark sound control device, a hair wig and a gas burning stove. Evenings between 6 pm and 8 pm is apparently the most forgetful time of the day.

PODCAST

On Episode 552 of The Core Report, financial journalist Govindraj Ethiraj talks to Professor Leon Laulusa, Executive President and Dean of ESCP Business School.

1. The markets recover as bargain hunters return to focus on positive Indian data

2. Goldman Sachs projects an extreme oil scenario of $40 a barrel

3. US CEOs find their voice and rail against tariffs

4. MBA in the time of tariffs, views from a top French business school

5. Indian CEO salary hits Rs 10 crore despite all the turmoil

6. Heatwaves are increasing in India and elsewhere in the world

😒 UGHH

The US continues to deport students, with Harvard University saying some of its students came under fire, too, according to a report in The Times of India. US Secretary of State Marco Rubio previously said they have revoked 300 visas across the country because those international students participated in campus protests. Already, the US had been denying more study visas than before to Indians; this move is likely to reduce the number of Indian international students even more. 

The Economic Times listed the reasons why a student could lose their visa status; they include failing to pay tuition, working illegally, committing a crime, overstaying their visa, lying on their application forms, and national security concerns. Under Trump 2.0, that list has grown and now includes minor infractions like committing a parking violation, or participating in political activism too.

👥 THE TEAM

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