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Home Investment

India wins FDI in domestic airlines

Fiinews by Fiinews
March 15, 2020
in Investment
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The Minister of State for Housing & Urban Affairs, Civil Aviation (Independent Charge) and Commerce & Industry, Shri Hardeep Singh Puri addressing at the Wings India 2020, at Begumpet Airport, Hyderabad on March 14, 2020.

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India screened 1.17 million passengers

The Indian civil aviation industry has ushered in a new era of expansion, driven by factors such as Low-Cost Carriers (LCC’s), modern airports, FDI in domestic airlines, advanced IT, and our growing emphasis on regional connectivity.

Civil Aviation Minister Hardeep Singh Puri gave the industry assessment at ‘WINGS INDIA 2020’ in Hyderabad on 14 Mar 2020.

But he added, “We are at a point where we need to bring aviation turbine fuel under GST and by and large there is acknowledgement from across states to make it happen.”

Noting the Corona Virus challenge, especially for the civil aviation sector, he said, “Our airports constitute a benchmark for how airports should be running across the globe, specially the 30 airports where proper screening is already in place.”

India, he said, has screened 10,876 flights coming in from across the globe that include 1,171,061 passengers, 3,225 of whom required further screening.

“I am sure that once people get the right perspective, know where we are, look at the recovering numbers, we will not only overcome this challenge, but will see robust vibrant growth in the civil aviation sector,” assured Puri.

The aviation and aerospace has witnessed tremendous growth with further room to growth, added K T Rama Rao, Minister for Industries & Commerce, IT, Electronics & Communications and Municipal Administration & Urban Development, Government of Telangana.

“Our focus should be on skill development and MRO infrastructure and foreign investments,” he stressed.

The MRO sector has a huge potential for employment generation along with significant investments from overseas.

Present at the Ministry Plenary today were Chief Guest Shri Hardeep Singh Puri, along with Shri K T Rama Rao,  Shri

Overview of the aviation industry was also discussed at length at the plenary session on 14 Mar 2020 which was attended by Arvind Singh, Chairman, Airports Authority of India, and Anand Stanley, Chairman FICCI, Civil Aviation Committee and Managing Director, Airbus India.

Key highlights include:

Domestic traffic has growth 14 times in the last 18 years. Total traffic has growth 8.2X including international traffic.

The future of the industry in terms of connectivity is promising, increasing connectivity through UDAN has helped the per capita trips to rise from 0.1 per person to 0.5 per person.

Every minute an aircraft lands or takes off and according to the FICCI study, India will reach a passenger traffic of 1 billion.

Over the next few years, focus on MRO infrastructure building will lead to 100% of Indian aircrafts being serviced from India, in India and beyond India.

By 2040, Ministry of Civil Aviation along with FICCI has set a vision to ensure 100% of aircrafts have parts or manufacturing components from India. 

During the event, four MoU’s were also signed between various stakeholders in the presence of Minister Puri.

These include:

Exchange of Tri-partite MoU under the Ministry of Civil Aviation Krishi Udaan Scheme by Ras-Al-Khaimah International Airport, GMR Hyderabad International Airport and SpiceJet Ltd.

Government of Telangana, GMR Hyderabad International Airport and Airbus BizLabs.

Government of Telangana and DJI.

Government of Telangana, Asia Pacific FTO and Marut Drones. fiinews.com

Tags: FICCI
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