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India's aviation industry fastest growing sector: Report


Indian Airlines plane. A File Photo

NEW DELHI (BNS): Indian aviation industry is one of the fastest growing sectors contributing 0.2% to the country's GDP, according to a report on “Aviation Transport in India” carried out by the Dublin based Research and Markets.

Domestic air cargo traffic has been growing at CAGR of 11.23% from 2002-03 to 2007-08, whereas international air cargo traffic has been moving at CAGR of 12.16% during the same period, the study released on Tuesday said.

During 2007-08, total air cargo traffic at the airports in India was 1.71 million tonnes against 1.55 million tonnes during 2006-07, registering a growth rate of 10.32% during the period.

According to Airport Authority of India (AAI), Indian air cargo market in terms of volume is expected to grow at CAGR of 11.5% from 2007-08 to 2011-12, of which the CAGR of international air cargo is expected to be 12.2% and domestic air cargo would be 10.15%.

The size of air transport sector in the country during the year 2007-08 was estimated to be Rs. 62.46 billion compared to Rs. 57.29 billion during the year 2006-07. The government has planned for phase-wise airport development and creating world-class airport infrastructure in some major places which is likely to boost airline and cargo sectors.

Many airlines are planning to create full-fledged cargo operations and it is expected that cargo movement from India will touch new heights due to increased economic activity in future, it said.

AAI manages 127 airports that include 16 international airports, 87 domestic airports and 24 civil enclaves at defence airfields, while Air India Cargo lifts 2,000 tonnes of cargo every day on both international and domestic sectors through its dedicated freighters and belly space in passenger aircraft.

India would spend around Rs. 400 billion in airport development under several programmes by 2010, it added.

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