Civil aviation sector to attract USD 110bn investment by 2020

New Delhi: The civil aviation sector in the country is likely to attract an investment of USD 110 billion by 2020 for purchasing new aircraft and building airport infrastructure.
''Out of the total investment, 80 billion dollars would be required for the purchase of new aircraft and 30 billion dollars for building up airports' infrastructure,'' Joint Secretary to the Ministry of Civil Aviation R K Singh said in a seminar.
In a bid to promote Foreign Direct Investment (FDI) in the civil aviation industry, it is proposed to further liberalise the FDI policy particularly in areas of charters, cargo, maintenance and repair operations, flying training and ground handling, he added.
If India's current economic growth rates were sustained, it would become a trillion-dollar economy by 2009 and also emerge as the world's third largest economy by 2025.
22/07/07 Zee News

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Categories: Foreign Jul 2007, General Aviation Jul 2007