India 's Civil Aviation Industry Essay
India’s civil aviation industry is growing rapidly. Already on its path to be the third largest aviation market is expected to be the largest by the year 2030.
Factors such as Low Cost Carriers, Foreign Direct Investments in domestic airlines, Modern Airports, Information Technology involvement and importance to regional connectivity have driven the aviation industry to its fullest. Simply going by the market size, the Indian civil aviation industry has a market size of sixteen billion dollars.
It is also speculated to be the fastest emerging aviation commercial market in the world.
The freight traffic in the country grew by 6.6% this fiscal year, while domestic and international freight traffic grew by 7.1% and 6.2% respectively. In all over 2.1million tonnes were flown into and out of India in this financial year of which 0.8million tonnes were flow within the country and 1.3million tonnes internationally.
The Government, in order to support the airport sector, has focused its attention on the infrastructure; this includes the development of a hundred low cost airports. An amplified liberalization (decreased red tape) and open sky policy by the government has also been a major power up to the industry. Also, 100% FDI under automatic route for Greenfield projects and 49% for foreign carriers has allowed international competition in a previously indigenous market.
The number of passengers in Indian Airports is anticipated to increase from 159.3million in…