India soon to be a topthree aviation market

first_imgSource = e-Travel Blackboard: M.H …… India is just 8 years away from becoming one of the world’s top three markets, a report has forecast. Image: The Hinducenter_img Based on recent burgeoning passenger growth, a new report has predicted that India will become one of the world’s largest aviation markets by 2020. According to The Times of India, the FICCI-PxC report claimed that if the nation’s civil aviation sector continued to grow as quickly as it had done in recent times, it would soon be amongst the world’s top three markets. Domestic traffic in India grew at a compounded annual growth rate of 17 per cent between 2009 and 2011, the paper reported.   Titled ‘Indian Aviation: Spreading its Wings’, the report said that solid market growth “coupled with infrastructure expansion will help the sector back on its feet as the economy recovers”.It also said that now would be a good time for global players to invest in a largely underserved market. Optimism however, was tempered by a warning that “volatility in fuel prices combined with the highest tax on aviation turbine fuel and other national policy related issues” would continue to challenge growth in the sector.last_img read more