India is expected to become the third largest aviation market in the world by 2020 after the US and China, K N Srivastava, Secretary, Aviation, Government of India said, as per a PTI report. ?India is among the fastest growing and currently the ninth largest civil aviation market in the world,” he said, speaking at an event to rename Bangalore International Airport as Kempegowda International Airport.
Srivastava said the country’s aviation market is expected to see a major upsurge in traffic in the next ten years, with 337 million domestic and 84 million international passengers. At present, the Indian aviation market is witnessing 117 million domestic and 43 million international passengers, he added.
?India’s domestic aviation market is the second highest growing market in the world after China, and it is expected to become the third largest aviation market in the world after the US and China by 2020,? he said.
Stating that Bengaluru was fast emerging as the preferred investment destination for aviation business in the country, Shrivastava said,?Bangalore airport is one of the busiest and fastest growing airports in the country,” he said.
Speaking on the occasion, Ajit Singh, Minister for Civil Aviation, Government of India, said, ?Providing quality aviation infrastructure is the highest priority of his ministry and significant measures are being taken to provide affordable air connectivity?.
Stating that the Planning Commission task force has provided the blueprint for robust expansion and modernisation of airports through PPP model across the country, he said “in line with the recommendations of the task force, the government has decided to operate, manage and develop 20 airports of Airports Authority of India under PPP mode.”