Role of Aviation Industry in India GDP-Facts
• With the entry of the private operators in this sector and the huge cut in air prices, air travel in India were popularized
• On February 18, 1911, the first commercial flight was made from Allahabad to Naini by a French pilot named Monseigneur Piguet
Role of Aviation Industry in India GDP-Growth Factors
• The growth in the Indian economy has increased the Gross Domestic Product above 8% and this high growth rate will be sustained for a good number of years
• Air traffic has grown enormously and expected to have a growth which would be above 25% in the travel segment
• In the present scenario around 12 domestic airlines and above 60 international airlines are operating in India
• With the growth in the economy and stability of the country India has become one of the preferred locations for the trade and commerce activities
• The growth of airlines traffic in Aviation Industry in India is almost four times above international average
• Aviation Industry in India have placed the biggest order for aircrafts globally
• Aviation Industry in India holds around 69% of the total share of the airlines traffic in the region of South Asia
Role of Aviation Industry in India GDP-Future Challenges
• Initializing privatization in the airport activities
• Modernization of the airlines fleet to handle the pressure of competition in the aviation industry
• Rapid expansion plans for the major airports for the increased flow of air traffic
• Immense development for the growing Regional Airports
Role of Aviation Industry in India GDP-FDI Policy
The Reserve Bank of India (RBI) announced that foreign institutional investors might have shareholdings more than the limited 49% in the domestic sector.
• Airports
Foreign equity up to 100% is allowed by the means of automatic approvals pertaining to establishment of Greenfield airports
Foreign equity up to 74% is allowed by the means of automatic approvals pertaining to the existing airports
Foreign equity up to 100% is allowed by the means of special permission from Foreign Investment Promotion Board, Ministry of Finance, pertaining to the existing airports
• Air Transport Services
Up to 49% of foreign equity is allowed by the means of automatic approvals pertaining to the domestic air transport services
Up to 100% of NRI investment is allowed by the means of automatic approvals pertaining to the domestic air transport services
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Maani Sharma [ MBA Aviation ]
Manager Aviation NEWS Project
www.All-Aviation-NEWS.in
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