(FE)
India should be perceived as not just a large aviation market but also as a value chain leader, Prime Minister Narendra Modi said in his address at the annual general meeting of the International Air Transport Association (IATA) in New Delhi on Monday.
India’s civil aviation market is the fastest growing in the world, and it is already the third largest, behind the US and China. Homegrown brands like IndiGo, Air India and Akasa Air have placed orders for more than 2,000 planes to tap the future growth in the sector.
To keep up with the allied sector of aircraft service, Modi said, “In 2014, there were 96 MROs (maintenance repair and overhaul) in India, which has increased to 154 today. Our target is to make India a $4 billion MRO hub.”
“We want the world to look at India not just as an aviation market but also a value chain leader. From design to delivery, India is becoming an integral part of the global supply chain,” Modi further added.
He also highlighted the launch of the UDAN (Ude Desh ka Aam Nagrik) scheme, which was launched during the first term of the Modi government in 2016. The scheme aimed to help airlines operate flights to the unconnected and underconnected airports.
“The success of our UDAN scheme is a golden chapter in India’s civil aviation space. More than 15 million customers have benefited from cheaper travel. Many people took to the skies for the first time ever,” Modi added.
“Our airlines are clocking double-digit growth. Around 240 million passengers undertake air travel every year; this is more than the total population of many countries. By 2030, this is estimated to rise to 500 million. Today, 3.5 million metric tonne cargo are transported by air. By the end of this decade, this will increase to 10 million,” Modi added.
The government aims to have 350 operational airports by the 100th year of independence, which will be more than double compared to the 157 at present.
