New Delhi, 23rd Nov 2023:
At the IndiAirport Summit 2023,Gen. (Dr.) V. K. Singh (Retd.),Minister of State, Ministry of Civil Aviation outlined how the government is actively working to create a favorable environment for the growth of the Aviation Industry.
He informed,” we are focused on providing excellent facilities for the passengers and the industry, which forms a crucial part of our ecosystem. Over the past nine years, we have increased the number of airports from 74 in 2014 to 148 today. Our commitment is to sustain this growth, fostering opportunities for companies to enter this sector. Our further efforts includes, liberalization of flight training institutions and support to aviation companies through the UDAN scheme and assist them in recovering from COVID-related losses, despite witnessing today a surge in passenger traffic, the UDAN scheme also visions to targets smaller aircraft catering to 20-80 capacity, aiming to connect more regions and create new domestic hubs.”
He said, ‘recognizing the potential for manufacturing in India, I assure the industry that it is cost-effective to produce here. Cargo is another significant aspect of the Aviation Industry with great potential for growth. We encourage companies to explore opportunities in India, given the vast market and the strategic geographic location of the country.’
On the agenda of sustainability, the Minister shared, ‘we are also actively exploring the use of sustainable fuels while ensuring profitability. Recent experiments with biofuel mixtures have shown promise, and we are moving forward to establish more biofuel hubs.’
The 2nd edition of IndiAirport Summit 2023 was organised by PHD Chamber of Commerce and Industry (PHDCCI) at the India International Convention and Expo Centre (IICC) in New Delhi.
Dr. Ranjeet Mehta, Executive Director, PHDCCI while giving the welcome address expressed, ‘to evaluate the business environment within any organization, the PESTEL framework (Political, Economic, Sociological, Technological, Legal and Environmental) serves as a comprehensive formula for assessing growth. In the case of India, substantial progress is evident across these parameters. With a stable and sound political system, India stands as the fastest-growing economy globally. In the realm of technology, both nations have demonstrated commendable performance. Initiatives such as the UDAN scheme further open avenues for investors, fostering business growth and reinforcing India’s status as an attractive destination for opportunities, he added.
Sanjeev Edward, Chair, Civil Aviation Committee, PHDCCI said, ‘the Aviation sector is a critical component of growth and has experienced significant expansion with the committed support of the Aviation Ministry and the Union government. With the dedicated allocation of 30,000 crores towards the establishment of new green airports underscores the Indian government’s commitment, led by our ministry, to address supply chain bottlenecks. This significant investment aims at the expansion and modernization of terminals, including the development of new ones, contributing to the overall growth of the industry.’
Michael Jain, Co-Chair, Civil Aviation Committee gave the industry perspective and moderated the session on Sustainable Aviation: Translating Best Practices into Reality. He shared his perspective on the UDAAN scheme- Current Status & future projections.
