Thaindian News

New Delhi, May 6 (IANS) The Indian aviation industry requires $30 billion (Rs.135,000 crore) in the next 15 years to develop infrastructure and manpower to cope with increasing passenger and cargo traffic, a senior government official said Friday.

“We need around $30 billion-worth investment in various sub-sectors of the aviation industry, including infrastructure development and aircraft acquisition, in the next 15 years,” Civil Aviation Secretary Nasim Zaidi said in his inaugural address during an industry summit here.

According to Zaidi, apart from investment, long-term planning and new regulatory framework were required to give a boost to the sector.

“We must have a long-term planning matched with a vibrant regulatory framework as Indian aviation has all the necessary ingredients to grow exponentially,” Zaidi said.

Zaidi said that 12 greenfield airports were being developed in the country, as there was an ever increasing passenger traffic being witnessed by the industry.

The official data with the ministry has revealed that the industry has seen a passenger growth of 15 percent in 2010-11, and a total of 142 million passengers checked in and out of airports across the country.

Zaidi, who was speaking at an Associated Chambers of Commerce and Industry of India (Assocham) event, added that aviation secretaries from all the states will soon meet to provide inputs for shoring-up of the aviation infrastructure.

According to estimates, passenger traffic in India is likely to reach around 540 million by 2025, and the fleet size of airlines 1,500 aircraft from 430 currently.

Meanwhile, cargo traffic is expected to reach nine million tonnes from 2.33 million tonnes in the last financial year.