Rediff.com« Back to articlePrint this article

'Indian aviation to need $30 billion in 15 years'

Last updated on: May 6, 2011 15:42 IST
A Kingfisher aircraft.

The aviation sector needs $30 billion worth of investment over the next 15 years to keep up with booming passenger and cargo traffic, Secretary Nasim Zaidi said on Friday.

"We must have a long-term planning matched with a vibrant regulatory framework as Indian aviation has all the necessary ingredients to grow exponentially," he said at an Assocham event in New Delhi.

Click NEXT to read further. . .

'Indian aviation to need $30 billion in 15 years'

Last updated on: May 6, 2011 15:42 IST
An Air India Airbus A321 sits on the tarmac as a Kingfisher Airlines aircraft takes off.

Zaidi said 12 greenfield airports are currently being developed in different parts of the country, providing an opportunity to become a global hub for airlines.

A total of 142 million passengers checked in and out of airports across the country during 2010-11, marking a growth of 15 per cent over the previous year, he added.

Further, he said that state aviation secretaries will soon meet to provide inputs for toning up infrastructure.

Click NEXT to read further. . .

'Indian aviation to need $30 billion in 15 years'

Last updated on: May 6, 2011 15:42 IST

The industry also needs foreign investments to set up training institutes in various areas, especially to train air traffic controllers, Zaidi added.

According to estimates, passenger traffic is likely to be around 540 million by 2025 as the fleet size of scheduled airlines increases to 1,500 from 430 now.

At the same time, cargo traffic is expected to touch 9 million tonnes from 2.33 million tonnes in the last financial year.

© Copyright 2024 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.