India is a significant aviation market for the Asia Pacific and the rest of the world and is likely to experience strong demand for air travel, the international airline association IATA said on Tuesday as the nation's domestic air passenger traffic edged closer to pre-COVID levels.
The Indian aviation industry, which was severely impacted by the COVID-19 pandemic, is now on the road to recovery, and airlines are ramping up employees and opening new routes to meet the growing demand for travel.
On October 9, the number of domestic air travellers reached 4 lakh per day, approaching pre-COVID levels. Prime Minister Narendra Modi called the trend a "great sign" on Tuesday.
In terms of passengers, planes, and airports, India's civil aviation industry is set for unprecedented expansion. By 2027, the country is expected to have 40 crore passengers flying domestically and internationally, said Civil Aviation Minister Jyotiraditya Scindia.
During an online briefing on Tuesday, IATA's Regional Vice President for Asia Pacific Philip Goh said the Indian market is a "very important market and is already contributing massively to some parts of the world.
"I can see many airline companies are starting, resuming or expanding network to India. Definitely, a key market (India) for the region and the rest of the world," he said.
As per him, the Indian market is huge and the demand is expected to be quite robust as long as the economics of flying within India and out of India does not changed drastically.
"India as a market has got some unique factors like very high fuel prices because of taxes... but we do expect India to be robust in terms of demand," he added.
The International Air Transport Association (IATA) represents around 290 airlines worldwide, including those from India.
On Monday, Scindia said the civil aviation sector is on the road to full recovery.
" The Indian civil aviation has not only hit the 4-lakh daily passengers mark, but also achieved the highest ever numbers since pre Covid 19 era! Way to go," he tweeted.
11/10/22 Economic Times
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