With the laying of foundation stone, the UPA government has gone ahead with the privatisation process of Delhi and Mumbai airports, overlooking the protest from the Left parties and to cope with rising air passenger traffic.

The GMR-led consortium, which holds 74 per cent stake in Delhi International Airport Pvt Ltd (DIAL), the newly formed joint venture company, is of the opinion that the IGIA will rank among the best in world in coming years.

With remaining 26 per cent stake, the Airports Authority of India (AAI) will continue to manage air traffic control - a crucial component of any airport - and oversee security and fire-control related issues. DIAL is a joint venture company consisting of GMR group, AAI, Fraport, Eraman Malaysia and India Development Fund.

Speaking after the stone-laying ceremony, Civil Aviation Minister Praful Patel said to overcome problems relating to land acquisition, private entrepreneurs, who possess the required amount of land, should be allowed to build greenfield airports in the country.

He asked the Finance Ministry and the Planning Commission to "revisit" the policy on airports as land acquisition for special economic zones was facing major hurdles.

He said there was a need to "revisit" the policy on airports as almost every airport expansion project was facing problems relating to land acquisition.

In her address, Ms Gandhi said the expanding civil aviation sector and construction of new infrastructure would "transform many regions, the backward ones in particular. New job opportunities will be created and the economic activity intensified".

She stressed on improving air connectivity to the North-East and places of historical and cultural importance.