India is likely to emerge the 3rd largest aviation market by 2029.
India is likely to emerge the 3rd largest aviation market by 2029, Airports Council International's Economic & Program Development director Dr. Rafael Echevarne, said, at India Aviation 2012.
Speaking in a business session on "Roadmap for Civil Aviation: Turbulence & Recovery" during the event at Begumpet Airport on Thursday, he said that the Indian aviation market was moving on the right path.
Dr. Rafael Echevarne highlighted the growth trajectory of aviation in India during the last 5 years, in which the country improved its rank from the 101st in 2007 to the 12th in 2010 in terms of airport maintenance, traffic handling and passenger facilities.
In order to sustain this, India would require putting in place a regulatory framework that encourages investment, ensures safety and facilitates the development of tourism, he opined.
Several issues pertaining to shaping Indian civil aviation's future, the impact of financial and airlines' debt crises on the aviation industry, ensuring affordable and sustainable connectivity for passengers and freight, were also discussed at the business session.
Emphasizing on the restoration of the competitiveness of Indian aviation during his keynote address, Tony Tyler, IATA's Director General and CEO, suggested that airlines purchases must be aligned with international principles.
In addition, he recommended infrastructure expansion, rationalization of airport charges, and investment policies that enable 49% direct investment by foreign carriers.
The groundwork done by the Ministry of Civil Aviation, in consultation with industry stakeholders, towards a National Aviation Policy, was appreciated by the industry captains.
Amber Dubey, Director Aviation, KPMG, which is the knowledge partner of India Aviation 2012, said that initiatives like formulating an Air Cargo Promotion Policy, a proposal to set up a full-fledged aviation university, and investments in MRO hubs, are positive steps taken by the government.
He added that there is an urgent need to develop no-frill airports in tier-2 and tier-3 cities, in keeping with the potential increase in air passengers in India.
Dr. Nasim Zaidi, Secretary, Ministry of Civil Aviation, released 2 Knowledge Reports on the Indian civil aviation industry, titled "India: The Emerging Aviation Hub" by KPMG and "Economic Benefits from Air Transport In India" by Oxford Economics.
Yap Ong Heng, Director General, Civil Aviation Authority of Singapore; Umesh Kumar Baveja, Chairman, Regional Airport holdings International Ltd.; and Ilya Gutlin, Vice President, SITA also spoke. (INN)