India's aviation industry becomes third-largest domestic aviation market in world: Scindia

According to a press release by the Ministry of Civil Aviation on Thursday, India's aviation industry has become the third-largest domestic aviation market in the world.

New Delhi:Union Minister for Civil Aviation Jyotiraditya Scindia has said that India's aviation industry has become the third-largest domestic aviation market in the world. According to a press release by the Ministry of Civil Aviation on Thursday, the union minister inaugurated a curtain raiser event about Wings India, 2022 which is Asia's largest event on Civil Aviation.

Speaking on the occasion, Scindia said that the Indian Civil Aviation industry has witnessed robust growth over the years and contributes significantly to the economic development of the country. It is bringing people from across the world to discover the huge business and tourism opportunities in India, said the press release. The Minister said that the Indian aviation industry has overcome many challenges to become one of the world's most lucrative aviation markets.

"India today handles the third-largest domestic traffic after the USA and China. We all know that in this densely globalized economy, air transport is a key element in the country's transport infrastructure and plays an important role in the Country's economic growth," he said.

The union minister lauded the support of the aviation industry in combating the impact of the COVID-19 pandemic said that its impact was great as it carried enzymes, PPE kits, masks, medicines, and cargoes which states and union territories required.

He said that the overall freight handled by the country's airports during the first two quarters of FY-22 (combined) has recovered to more than 80% (15.36 Lakh MT during April-September, FY22) of the pre-pandemic level, despite the country being hit by a second wave in the first quarter, said the release.

"To bring the benefits of the Civil Aviation to the common people and provide affordable air connectivity, Government of India had announced Regional Connectivity Scheme (RCS) - UDAN (UdeDesh Ka Aam Nagrik) on 21st October 2016. As on date, 387 routes connecting 62 Airports including 6 Heliports and 2 Water Aerodromes have been made operational under RCS-UDAN Scheme," he said.

Meanwhile, the Minister has said that seven states and Union Territories have slashed their Value Added Tax on Aviation Turbine Fuel (ATF) and he expected other states to follow the suit.

"7 States &UTs slashed their VAT on ATF (Aviation Turbine Fuel) & I'm expecting more states to follow suit. With the current tax structure on ATF...you can't have a robust civil aviation sector. I'm very clear on that," the union minister said on Thursday while inaugurating a curtain raiser event about Wings India, 2022 which is Asia's largest event on Civil Aviation.

Speaking on the occasion, Scindia said that the Indian Civil Aviation industry has witnessed robust growth over the years and contributes significantly to the economic development of the country. It is bringing people from across the world to discover the huge business and tourism opportunities in India, said the press release by the Ministry of Civil Aviation.

The Minister said that the Indian aviation industry has overcome many challenges to become one of the world's most lucrative aviation markets.

"India today handles the third-largest domestic traffic after the USA and China. We all know that in this densely globalized economy, air transport is a key element in the country's transport infrastructure and plays an important role in the Country's economic growth," he said.

With Agency Inputs