As India plans to be a global aviation hub and one of the top three aviation markets worldwide by 2020, experts give us an overview of the this industry According to the French National Institute of Demographic Studies (INED), by the year 2050, India may be the most populous nation with a population of 1.6 billion far ahead of China’s 1.3 billion. A report by Knight Frank and Citigroup predicts that, by 2050, the Indian economy may be the world’s largest on purchasing power parity basis around $86 trillion with China at $80 trillion and USA at $39 trillion. Given the close relation between the economy and aviation, India is expected to be the third largest aviation market by 2020 and perhaps the largest by 2030. India is one the fastest growing aviation markets and currently the ninth largest civil aviation market in the world. More than 85 international airlines operate to India and five Indian carriers connect over 40 countries. India is one of the least penetrated air markets in the world with 0.04 trips per capita per annum as compared to 0.3 of China and more than two in the USA. India is poised to experience a rapid upswing in the business aviation sector owing to its geographic location, favourable demographics and robust economic growth. Located strategically between the Middle East and Europe on one side and the East Asian economies on the other, India’s geography offers a lucrative opportunity for the growth of general and non-scheduled aviation due to the rising demand from the ever growing numbers of high net worth individuals and business houses in the country.
Source: http://epaperbeta.timesofindia.com/
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