New Delhi: Civil Aviation Minister Ajit Singh on Tuesday said that India would be the third largest aviation market by 2020.
Singh informed that studies suggest, the countries airports would be handling 336 million domestic and 85 million international passengers with projected investment to the tune of US$ 120 billion by 2020.
"The studies suggest that by the year 2020, India is likely to become the 3rd largest aviation market handling 336 million domestic and 85 million international passengers with projected investment to the tune of US$ 120 billion. Indian Aviation Industry has been instrumental in the overall economic development of the country," said Singh, while speaking at a function in the national capital on the occasion of Aviation Day.
"I am told that Oxford Economics report commissioned by IATA indicates that Aviation accounts for 1.5 percent of India's GDP and supports 1.7 million jobs - with a further 7.1 million employed in other sectors including tourism through the catalytic effects of aviation," he added.
Singh reminded the gathering that recently he took a decision to liberalize the process for airlines to acquire aircrafts by doing away with the Aircraft Acquisition Committee.
26/03/13 NewsTrackIndia
