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Air Cargo undergoing paradigm shift

Kharola calls for improved infra

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Kharola calls for improved infra

 

PHD Chambers

The Indian air cargo industry is undergoing a paradigm shift with fast paced evolution of infrastructure and technological innovations, said Civil Aviation Ministry Secretary Pradeep Singh Kharola.

Taking these as opportunities to the sector, he added that improved infrastructure and processes will boost the industry and make it world class.

He was speaking at the 5th PHD Air Cargo Summit organized by PHD Chamber of Commerce and Industry on 5 Nov 2019.

Welcoming the dignitaries, PHD Chamber President Dr D.K. Aggarwal noted that the air cargo industry is poised to play a crucial role in the Indian economic development.

More than one-third of the value of the goods traded globally is transported by air. Technologies like artificial intelligence (AI) and Internet of Things (IoT) will help the Indian air cargo industry stay competitive and productive, he added.

The air cargo sector is on a new growth trajectory with an immense amplifying demand for air freight in the country, said Aggarwal.

“This growth is further buoyed by the current anchor initiatives of the government, like Ease of Doing Business, Digitization; GST, Industrial Promotion Zones, Enhanced connectivity, National Air Cargo Policy Outline, Multi-modal transport policy, National Integrated Logistics Policy and many more,” he elaborated.

Civil Aviation Committee Chairman Arun Bhagat pointed out that the Indian air cargo business is growing at 10% CAGR and in the next 20 years, air cargo traffic is expected to more than double, even as the world freighter fleet grows by more than 75%.

“Therefore, there is urgent need to eliminate inefficient processes to make the Indian industry competitive,” he said, calling for skill development and higher investment in infrastructure so that the domestic air cargo industry can compete globally.

5th PHD Air Cargo Summit was themed as “Air Cargo Industry Transformation Future Outlook”, provided platform to all stakeholders of the air cargo and logistics industry to come together and explore the viability of the policy changes and exchange sustainable suggestions for the Air Cargo Industry’s exponential transformation and growth.

A knowledge paper titled – Air Cargo Industry Transformation – future outlook by Auctus Advisors was also released during the Summit. fiinews.com

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