Hyderabad: Faced with the stiff challenges posed to the aviation industry by rising fuel costs, Euro debt crisis and infrastructure bottlenecks, the Union Civil Aviation Ministry has embarked upon several initiatives for propelling the aviation sector.
The Ministry is working out on an economic policy framework for future airports to attract investments as well as ensure their viability. This is in addition to allowing 100 per cent foreign direct investments in the Greenfield airports under the automatic route and formulation of an Air Cargo Promotion Policy which will soon be brought out for consultations, Union Minister for Civil Aviation Minister Ajit Singh said here on Wednesday.
Mr. Singh formally launched the India Aviation 2012, the third edition of the country’s premier aviation exhibition and conference, here on Wednesday. The event, according to FICCI civil aviation committee chairman Dinesh Keskar, has seen 20 per cent increase in participation compared to the previous edition with more than 200 companies including the leading aircraft manufacturers taking part in it.
Mr. Singh said the Ministry was working upon a framework to modernise regulatory work for aerospace sector including its promotion. Coupled with this was the bilateral aviation safety agreement with the FAA of the US that was expected to boost export of aeronautic products.
14/03/12 The Hindu
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