Thursday, September 27, 2018

Vision 2035: The Indian aviation sector is ready for a takeoff

India is set to displace United Kingdom as the third largest civil aviation market by 2025. Currently, only 5% of 1.3 billion Indians travel by air, and they make close to 200 million trips per year. This points to tremendous growth potential, however, multiple challenges abound in the path towards achieving the ambitious goal of ensuring one billion trips per annum over the next 15-20 years.
According to data tabled in the Parliament on 2nd August 2018, of the 7,200 complaints against domestic air carriers received in the last 20 months, 2,233 were related to flight delays alone arising mostly due to congestion at airports. Most instructive was the government’s response in the Parliament on 9th August 2018, which revealed that out of the Rs 4,086 crore allocated for airport development and upgradation, the Airport Authority of India had spent only Rs 345.06 crores up to 30th June, 2018.
The Ministry of Civil Aviation’s proposed Vision 2035, is expected to provide a roadmap for realizing the aspirations of a country that is hungry to fly like never before. This blueprint aims to provide the necessary infrastructure required for the industry to grow unhindered. This requires de-congesting airports and airspace, as well as providing the right kind of expertise and investment in order to create an ecosystem that can support the future. With all this falling in place over time, the sector will create space and opportunity for private players to contribute with their expertise and grow along with.
27/09/18 Qrius