Verma, Agarwal Forecast Indian Aviation – Airways | Airlines

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DALLAS — Indian aviation is one of the fastest-growing aviation markets in the world, with 136 million domestic passengers and 54.6 million international passengers for 2022-2023. The number is rising compared to previous financial years, showing great confidence in crossing the pre-COVID numbers. 

With the rising demand in the Indian aviation sector, new airlines like Akasa Air, FlyBig, and FLY91 have recently commenced operations within the past three years. In addition to Air India’s (AI) revamping, IndiGo (6E) and Akasa Air (QP) placed multi-billion dollar orders in previous years. 

In an interview with Airways, Vineet Verma, the newly appointed managing director of WTC Bengaluru, Chennai, and Kochi, and Devesh R. Agarwal, an Indian aviation expert and former President of the Bangalore Chamber of Commerce, shared their views on the current and future state of Indian aviation.

1.⁠ ⁠2023 was one of the best years for the Indian aviation sector in terms of revamping the national airline, Air India, multi-billion orders from various airlines, and new routes like Cochin—Ho Chi Min City, Hyderabad—Frankfurt, and so on. How do you forecast the growth of Indian aviation in terms of India being a hub?

Verma: It’s a rule of thumb that aviation grows at roughly 2X GDP growth. India is on a high growth trajectory, and growth in the aviation market will continue.

Agarwal: The government wants to create hubs in India, especially around the National Capital Region, i.e., Indira Gandhi International Airport (DEL) and NOIDA airports. We look forward to progressive policies emerging in the year ahead that will facilitate and stimulate this goal.

2.  One of the driving factors for rapid growth is the UDAN scheme; as of now, 76 airports and 519 routes are operationalized, connecting tier-2 and tier-3 cities. How rapidly do you think this growth is helping/affecting tier-1 cities, and how are they coping with it?

Agarwal: We stopped tracking…

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