Hyderabad: The Government plans new policies for development of the aviation sector, including an air cargo promotion policy, Mr Ajit Singh, Union Minister for Civil Aviation, said. The proposal will be circulated to garner views.
He said an appropriate economic regulatory framework for future airports is being worked out to attract investments and ensure viability.
Delivering his keynote address at India Aviation 2012, the Minister said with continued growth in the aviation sector, particularly increased air traffic and the fleet expansion programmes of airlines, India offers long-term prospects.
India today is uniquely placed to offer enormous opportunities and potential for global aviation companies to collaborate and expand. In the last decade, the domestic airline traffic has gone up six-fold from 13 million to 60 million in 2011.
The cargo handled at the Indian airports has seen an impressive compounded annual growth rate (CAGR) of 10.89 per cent in the last five years, with international cargo accounting for two-thirds.
14/03/12 V Rishi Kumar/Business Line
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