New Delhi: Leading industry body ASSOCHAM today called for streamlining various taxes to encourage aviation maintenance, repair and overhaul (MRO) facilities as the country has huge potential to become a major hub due to low cost benefits, favourable geographical location and sharp upswing in air passenger traffic.
The Indian civil aviation sector is currently celebrating 100 years of existence but its share is just one per cent in the 50 billion dollar global MRO market.
Passenger traffic of scheduled airlines jumped from 73 million in 2005-06 to 142 million in 2010-11, said The Associated Chambers of Commerce and Industry of India (ASSOCHAM). “By a conservative growth rate of ten per cent, the throughput is expected to be 540 million passengers by 2025,” said its secretary general D.S. Rawat.
At the same time, cargo traffic is expected to touch nine million tonnes from 2.33 million tonnes in the last financial year. India’s scheduled airlines have 430 planes now. Industry estimates suggest this figure is likely to go up to 1,500 by 2025.
Besides, the general aviation comprises of 700 small planes and 300 helicopters. In addition, the business jet fleet has about 140 aircraft. This is expected to grow to 2,500 aircraft and 900 helicopters.
05/07/11 Orissadiary.com
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