New Delhi: India is currently the third-largest domestic aviation market, the Government informed the Rajya Sabha on Monday. Gen. (DR) VK Singh, MoS, Ministry of Civil Aviation in a written reply further stated that according to the International Air Transport Association (IATA), India is expected to overtake China and United States as the world's third-largest air passenger market by 2030.
As for the steps taken by the Union Government to boost the growth of the aviation sector, the MoS said that development of new and existing airports with a projected capital expenditure of over Rs 90,000 crore over the next five years have been taken up by the Airports Authority of India (AAI) and private airport companies.
"India is currently the third largest domestic aviation market. In order to boost the growth of the aviation sector, the Airports Authority of India (AAI) and private airport companies have taken up the development of new and existing airports with a projected capital expenditure of over Rs 90,000 crore over the next five years." stated Singh.
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The Union Minister further stated that the number of airlines are increasing and the existing airlines are augmenting their fleet. "The number of passengers traveling by air has also shown an increasing trend. According to IATA's long term passenger forecast, India will emerge as the 3rd largest global air passenger market (which includes domestic and international air traffic). This will place India's aviation behind US and China in terms of air passengers, in the foreseeable future," he added.
Asked whether the Government is planning to expand its international airline service to any new nations, MoS said that India currently has Air Service Agreements with 116 countries providing direct connectivity to more than 40 countries and indirect connectivity to more than 100 countries.
"However, expansion of international airline service from any point in India to any new location is purely a commercial decision of the airlines on the basis of the economic viability of the route and other associated factors," he added.
