India Aviation 2016 – A Taste of the Future
The Indian aviation sector holds great potential in the development of the economy as well as connecting India from within and to rest of the world. The future projections for the industry are positive with the International Air Transport Association (IATA) predicting that India will be the third largest aviation market in the world in a decade. By the year 2020, air traffic will skyrocket to 450 million from 159.3 million in 2012-13. Even tier II and III cities in India are to be connected via air through 200 airports in the coming years. It was announced in the recent budget that 160 non-functional airports and 10 airstrips, all in smaller cities, will be developed at the cost of 50 to 100 crores each.
Despite the endless potential, the sector in India is one of the least penetrated air markets in the world and requires skill training. The per capita air trips per year in India are .04 as compared to .03 of China or 2 in the US. Currently, more than 85 international airlines operate to India and the country is connected to 40 countries through 5 carriers.
“This current scenario means the sector in India has tremendous space for growth – this includes opportunities for newer private sector players, need for building infrastructure, growth potential in both business, leisure and cargo industries, as well as space for Foreign Direct Investment (FDI),” said Renato Cudicio, Chairperson of Indo-Canadian Business Chamber (ICBC), Bangalore and CEO of Arsha Consulting who was visiting the fair and attending business meetings at the Canada booth.
Left to right: Greg Giokas, Consul General of Canada in Bangalore; Nadira Hamid, CEO of ICBC; Renato Cudicio, Chairperson of ICBC Bangalore and CEO of Arsha Consulting
Recognising the potential of the sector, The Ministry of Civil Aviation & Federation of Indian Chambers of Commerce and Industry (FICCI) have been organising “India Aviation Show” for the last few years. The show is a crucial platform that brings together CEOs of leading companies in the aviation sector, as well helps those in the sector connect with officials including the minister of Civil Aviation.
The fifth edition of India Aviation began on 16 march and will go on until 21 March. Inaugurated by President of India, Pranab Mukherjee, the event has 250 exhibitors from 25 countries occupying more than 10,000sq mtrs of exhibition space. Top aircraft and helicopter companies such as Boeing, Textron, Airbus, AA Embraer, Gulfstream, Dassault, Agusta Westland, Bell Helicopters and Russian Helicopters will take part in the show; as well as 30 aircrafts are on display.
Elizabeth Raj |Blogger - Arsha Consulting