India to become third-largest aviation market in terms of passengers by 2026, says Vice President Venkaiah Naidu

He was addressing a gathering after inaugurating the 2nd Aero Expo India 2017 in New Delhi, on Thursday.

Union Minister for Civil Aviation, Ashok Gajapathi Raju Pusapati, Minister of State for Civil Aviation, Jayant Sinha, and others were present on the occasion.

The Vice President said that the aviation sector not only plays a key role in promoting connectivity and creating jobs but is also an important driver of the economy.

He said that the aviation is the backbone of the global transport system.

It indeed is the most vital sector for linking businesses, bringing people together and promoting tourism worldwide, he added.

The Vice President said that India became the world’s fastest growing domestic travel market for the 22nd time in a row, recording a 26.6 per cent year-on-year growth in January 2017, according to IATA.

To underline the catalytic role aviation sector can play in driving the global economy, the Vice President quoted the International Air Transport Association (IATA) and said that one per cent of the global GDP is expected to be spent on air transport in 2017, totaling $ 776 billion.

IATA’s semi-annual report says that governments gain substantially from $ 124 billion of tax revenues this year and from over 69 million supply chain jobs.

He further said that while there is a downward trend in accidents, there cannot be any complacency and safety will have to remain the topmost priority of aviation authorities and experts.

The Vice President expressed his happiness on UDAN scheme seeks to promote regional connectivity by serving the un-served and under-served airports. Connecting Tier-II cities, pilgrim towns and historic places with the wider air routes is important for boosting tourism and business travel, he added.

"Among others, developing no frills and Greenfield airports, augmenting existing capacities, creating synergy between scheduled and non-scheduled airlines for better penetration and connectivity through collaborative efforts of the state and Central governments is needed," Naidu said.

The vice President sai, "I am also glad to know that PHD Chamber has also introduced a first ever HELI EXPO INDIA this year to give a wider platform to helicopter industry and tap into its huge potential. In the coming years, the use of civil helicopters for various roles, including tourism, medical services, law enforcement and disaster management is expected to grow significantly."

"I am sure India will soon emerge as an aviation hub not only in terms of increased air connectivity but also in terms of Maintenance, Repair and Overhaul (MRO) facilities and setting up of ancillary units," said he.

Image: PIB