VI­SION 2050: SHAP­ING IN­DIAN AVI­A­TION'S FU­TURE

As In­dia plans to be a global avi­a­tion hub and one of the top three avi­a­tion mar­kets world­wide by 2020, ex­perts give us an over­view of the this in­dus­try

The Economic Times - - Finance & Commodities -

jets, en­ables ex­ec­u­tives to con­duct busi­ness more ef­fi­ciently and have greater con­trol over their time.

"Busi­ness avi­a­tion is among the fastest grow­ing sec­tors in In­dia. I strongly feel that if the syn­ergy be­tween de­fence and civil avi­a­tion were to hap­pen and add to that the num­ber of peo­ple trav­el­ing by air, it could boost this sec­tor Over­all, there is a lot of po­ten­tial for this sec­tor in In­dia," notes Lt Gen Subrata Saha.

Busi­ness jets are not just sta­tus sym­bol any­more. Peo­ple are re­al­iz­ing the ef­fi­ciency of a pri­vate air­craft. Busi­ness jets pro­vide you with ab­so­lute con­trol over travel plans. Own­ing a jet or us­ing one by char­ter pro­vides you the abil­ity to travel at your own sched­ule. You are able to visit mul­ti­ple cities in one day; avoid queues at the air­port; able to con­duct meeting in pri­vacy on board the air­craft. More­over, you can travel to air­ports that don't have com­mer­cial air­line ser­vices. need ac­cess to busi­ness air­craft and may not nec­es­sar­ily want to own one or be able to own one.

Cor­po­rate avi­a­tion, whether by com­plete or frac­tional own­er­ship, is a piece that the in­dus­try and the gov­ern­ment can­not ig­nore - it could be the next big pull for the econ­omy, bring­ing in rev­enues from both for­eign trav­ellers and in­creased do­mes­tic busi­ness ef­fi­ciency.

In­dia plans to be a global avi­a­tion hub and one of the top three avi­a­tion mar­kets world­wide by 2020. By 2020, pas­sen­ger traf­fic at In­dia Air­port is ex­pected to in­crease to 450 mil­lion from 159.3 mil­lion in 2012-2013. The avi­a­tion sec­tor is likely to see in­vest­ments to­talling USD 12.1 bil­lion dur­ing 12th Five Year Plan, out of which USD 9.3 bil­lion is ex­pected to come from the pri­vate sec­tor. 200 low-cost air­ports are planned to be built in the next 20 years to con­nect tierII and tire-III cities. USD 1.3 bil­lion is planned to be spent on non-metro projects dur­ing 2013-17 mainly fo­cus­ing on the mod­erni­sa­tion and up gra­da­tion of air­ports.

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