The airline, which currently has 30 aircraft, is also planning to re-fleet itself and has recently signed nearly $6 billion worth deal to purchase 16 Boeing 787 aircraft.
It also placed a $5 billion order for purchase of 35 Airbus A 330 aeroplanes.
"Some of these will replace the current aircraft and the remaining will be used for growth", Gulf Air chief operating officer , Christopher Cain, said.
Announcing the launch of Gulf Air services to Hyderabad on Tuesday, Cain said that India was a "very important market to us".
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The airline operates 275 flights per month offering 50,000 seats to eight destinations in the country. Hyderabad is its eighth destination in India.
Gulf Air's Indian subcontinent regional general manager, Richard Hirsch, said that the airline has launched a revamped network on Tuesday.
The new network, based on a "wave" model, operates 588 flights every week in West Asia, with more non-stop flights than any other airline.
"We want to be the best airline and the biggest in the world', Hirsch said. Gulf Air India general manager, Rajeev Nambiar, said that the airline flights to Hyderabad have already reached an average booking of over 80 per cent and were nearing full capacity.