NEW DELHI, 6 June 2017: India’s civil aviation industry has emerged as one of the fastest growing industries in the country during the last three years, according to a report by the Ministry of Civil Aviation.
A media briefing reported by the Press Information Bureau noted there has been a 19% growth in domestic passenger traffic from about 61 million in 2014 to 100 million in 2016 to 2017.
India is now the third largest aviation market in the world and destined to grow even further.
According to Union Minister for Civil Aviation, Shri P Ashok Gajapathy Raju, the Ministry is working towards reshaping aviation ecosystem to ensure affordable and convenient flying for everyone as stated in national policy in 2016.
The Minister briefed the media in New Delhi, last Friday, highlighting the achievements of the Civil Aviation Ministry during the last three years.
The minister noted that airfares on average had fallen by 18% during 2016 to 2017, making flying more affordable. Scheduled domestic flight movements also rose from 700,000 in 2014 to 810,000 in 2016, an 8.2% CAGR growth.
Compared with 395 aircrafts in the fleet of Indian carriers in 2016, there are now 496 aircraft in operation today and another 654 are on order.
Open Skies Service Agreements have been signed with 49 countries and five nations in South Asia.
“India has undergone a complete transformation in the last three years with India emerging as the world’s third largest aviation market,” the minister explained.
“We now have more than 100 airports and we hope that will double to 200 plus airports in the next 10 to 15 years.”
Capacity at existing major airports will also be increased rapidly, while greenfield airports are under construction or planned in several places in the country such Goa and Mumbai.