India is set to play a pivotal role in shaping the movement of air cargo, said Jaideep Mirchandani, Chairman of global aviation conglomerate Sky One FZE in an interview with Republic. Asserting that India’s air freight market is estimated to stand at $13.08 billion (Rs 1.09 lakh crore) in 2023, he said that by 2028, it is expected to reach $17.22 billion (Rs 1.43 lakh crore) at a CAGR of 5.65 per cent.
“With the country's rapidly growing economy and increasing trade activities, India is poised to become a crucial player in the global logistics landscape. Key regions that are expected to drive this growth include major industrial hubs such as Mumbai, Delhi-NCR, Chennai, and Bengaluru, as well as emerging logistics centers in Gujarat and Hyderabad,” he said.
Mirchandani also stated that in the Asia-Pacific region, Sky One FZE is observing significant trends that can impact cargo volume growth. “The rise of e-commerce, especially in countries like India and China, is driving a notable surge in demand for air cargo transportation. According to IATA, global e-commerce is predicted to exceed $7.4 trillion by 2025, indicating the immense potential for cargo movement in the region. Additionally, the development of multimodal logistics hubs and advancements in technology are improving supply chain efficiency and promoting seamless cargo movement in the region,” he said.
14/09/2023 Bulbul Dhawan/Republic World
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