India to be third largest aviation market by 2020 with 421m pax: India Minister for Aviation

India's Minister for Aviation Ajit Singh stated (26-Mar-2013) India would be the third largest aviation market by 2020. Mr Singh informed that studies suggest, the countries airports would be handling 336 million domestic and 85 million international passengers with projected investment to the tune of USD120 billion by 2020. He stated: "India is among the countries witnessing highest growth in air passenger traffic. Its airport infrastructure is undergoing modernisation with the installation of state-of-the-art facilities. New Greenfield airports are under construction and security, surveillance and air traffic navigation systems have been modernised. India, a growing Asian economy, is amongst the fastest growing and currently the 9th largest aviation market handling 121 million domestic and 41 million international passengers. Today, more than 85 international airlines operate to India and 5 Indian carriers connect over 40 countries". He added: "The prospects and possibilities of growth of Indian aviation markets are huge. The gap between potential and current air travel penetration shows that India is presently at 0.04 air trips per capita per annum which is far behind developed countries like US and Australia (more than 2 air trips per capita per annum), China and Brazil (0.3 air trips per capita per annum). The Low ratio of per capita air trips in India suggests a huge potential for the air traffic growth considering a relatively higher trajectory of economic growth in the country coupled with necessary Government support". [more - original PR]