India A Land Of Emerging Opportunities: Ajit Singh

India, Singh said, has adopted liberal policies regarding bilateral air services agreement, partnerships and code- sharing. To facilitate the growth of MRO Business and to make it competitive, India has also announced several concessions.

Rapidly expanding air transport network and opening up of the airport infrastructure to private sector participation have fuelled the growth of the air traffic in India, he said.

India is currently the 9th largest aviation market handling 121 million domestic and 41 million international passengers with more than 85 international airlines operating to India and 5 Indian carriers connecting over 40 countries.

The Indian airport system is poised to handle 336 million domestic and 85 million international passengers by 2020, making India the third largest aviation market, Singh said.

Moreover, it is estimated that commercial fleet size is expected to reach 1,000 aircraft worth $45 billion from 400 today by 2020.

Besides, India has envisaged investment of $12.1 billion in the airports sector during the 12th Plan period, of which $9.3 billion is expected to come from the private sector for construction of new airports, expansion and modernisation of existing airports and development of low cost airports, Singh said.