India World’s Third Largest Growing Domestic Aviation Market, Says Economic Survey
During the 2007-08 to 2016-17 period, domestic passenger traffic registered a compound annual growth rate (CAGR) of 9.89 per cent
New Delhi: With the civil aviation sector witnessing “considerable progress”, India has become the world’s third largest domestic aviation market in terms of the number of tickets sold, according to the Economic Survey. To connect unserved and under-served airports, the government has come out with regional connectivity scheme UDAN (Ude Desh ka Aam Naagrik) and flights on many routes have commenced under this initiative.
“India is the 3rd largest and the fastest growing domestic aviation market in the world in terms of number of domestic tickets sold. In 2016-17, annual growth in domestic passenger departures was 23.5 per cent as compared to 3.3 per cent in the US and 10.7 per cent in China,” said the Survey tabled in Parliament today.
During the 2007-08 to 2016-17 period, domestic passenger traffic registered a compound annual growth rate (CAGR) of 9.89 per cent.
“There has been considerable progress in Roads, Railways, Metro Rail, Shipping, Civil Aviation, Power and Logistics Infrastructure Sectors that is expected to step up the growth momentum in the short term,” it noted.
With respect to revival of airstrips and airports, the Survey said that would be “demand driven” and would depend on the firm commitment from airline operators as well as from respective state governments.
“Provision of Rs. 4,500 crore for revival of 50 unservedvand under-served airports/ air strips has been taken up with budgetary support of government to be completed by December 2018,” it said.
In the current fiscal till September, domestic airlines carried 57.5 million passengers, a growth rate of 16 percent over the year-ago period.
During this period, scheduled Indian and foreign carriers ferried 29.2 million passengers to and from India — a growth of 9 per cent compared to the same period a year ago.