Indian Aviation, flying high
A rising proportion of middle-income households, healthy competition amongst Low-Cost Carriers, infrastructure buildup at leading airports and supportive policy framework will see India become the 3rd largest aviation market in the world by 2024
In 2010, 79 mn people traveled to/from/or within India. By 2017 that doubled to 158 mn, and this number is expected to treble to 520 mn by 2037. With the air passenger traffic projected to increase, the Indian aviation industry is on a high-growth path.
To satisfy the current and projected rise in demand for commercial air travel, Indian airlines have placed large orders for aircraft. The nation’s airplane fleet is projected to quadruple in size to approximately 2500 airplanes by 2038.
Currently, the country has 128 operational airports including 29 international, 89 domestic, and 10 custom airports. To meet the growing demand for air travel in India, it has become imperative to increase the capacity of airport infrastructure.
To augment the airport infrastructure the government aims to develop 100 airports by 2024 (under the UDAN Scheme) and expects to invest $1.83 bn in the development of airport infrastructure by 2026.
The projected upsurge in air travel in India would require more aircraft usage, thus, in turn, igniting the demand for Maintenance, Repair & Overhaul (MRO) services. The Indian Civil Aviation MRO market, at present, stands at around $900 mn and is anticipated to grow to $4.33 bn by 2025 increasing at a CAGR of about 14-15%.
Drone industry may grow to over INR 900 crore in FY 2023-24.
Up to 100% FDI is permitted in Non-scheduled air transport services under the automatic route.
Up to 100% FDI is permitted in helicopter services and seaplanes under the automatic route.
Up to 100% FDI is permitted in MRO for maintenance and repair organizations; flying training institutes; and technical training institutes under the automatic route.
Up to 100% FDI is permitted in Ground Handling Services subject to sectoral regulations & security clearance under the automatic route.
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FAQs
What are the major objective under National Policy on Civil Aviation 2016?
Major objectives under National Policy on Indian Civil Aviation industry:
i) Establish an integrated eco-system which will lead to significant growth of civil aviation sector, which in turn would promote tourism, increase employment and lead to a balanced regional growth.
ii) Ensure safety, security and sustainability of aviation sector through the use of technology and effective monitoring.
iii) Enhance regional connectivity through fiscal support and infrastructure development.
iv) Enhance ease of doing business through deregulation, simplified procedures and e-governance.
v) Promote the entire aviation sector chain in a harmonised manner covering cargo, MRO, general aviation, aerospace manufacturing and skill development
What is the procedure to carry out cargo services related transactions electronically with AAI?
Any exporter/importer/Customs House Agents/Airlines etc. who wish to transact electronically with AAI, would be mandatory required to get register with AAI at http://aaiclas-ecom.org Registration is mandatory for Message Exchange activities also.
Registration Process:
User has to fill up the physical registration form along with relevant documents and submit to Airports Authority of India (AAI). AAI would ascertain the correctness of the details submitted. Users are requested to fill valid E-Mail address and Phone Number(s) in Registration form to enable AAI to perform further communications regarding User ID and Password allocation. Users are requested to immediately change the password(s) assigned by AAI.
Non Registered Users are not restricted from functionalities pertaining to Consignment Status, Charges Calculation Estimate Sheet and Cargo Procedures. Same features are available for registered users. In addition, Registered Users enjoy the privilege of accessing functionalities related to Printing of Charge related Documents, Payment transactions and Pre- Deposit account related statements.
Source of Information : https://www.investindia.gov.in/
