Friday, March 18, 2016

At 20.3%, India's domestic aviation market grew the fastest last year

With 81 million trips, India's domestic aviation market grew at over 20.3% during January-December 2015, making it the highest growth rate recorded in the world, said a study released by Ficci-KPMG as part of 'India Aviation Report 2016' report.
The growth, report claims, has put India well on its way to become the third-largest aviation market by 2020 and largest by 2030.
The report suggests that aspects such as increasing disposable incomes, fall in prices of Aircraft Turbine Fuel (ATF), increase in tourism, visa reforms, etc. have placed India in this unique position.
Amber Dubey, partner and India head of aerospace and defence, KPMG, said, "The positive impact of NCAP (National Civil Aviation Policy) 2016, rise in disposable incomes and the fall in ATF prices are likely to help India leapfrog into the top three of the world. One hopes that the government can match domestic ATF prices with global levels for a three-year experimental period. MRO is likely to see a huge revival if the service tax is zero-rated.
Growth of aviation and tourism can create a huge multiplier in terms of GDP growth and jobs."
18/03/16 dna
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