Growth of Indian Aviation: Air India Chief Highlights Investment Opportunities, ET TravelWorld

Time of India

2 days ago

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Indian carriers having more planes in their fleets provides businesses a rationale to invest in the country's aviation space as there will be a local market as well as an export market for services and support, according to Air India chief Campbell Wilson In an interview to PTI, Wilson said there is a lot of interest in India and a lot of people are keen to partner with Air India. "There is an air about India".The country's aviation industry directly employs 3,69,700 people and generates USD 5.6 billion of GDP. When indirect, induced and tourism impacts are included, the total rises to 7.7 million jobs and USD 53.6 billion of GDP (1.5 per cent), as per global airlines' grouping IATA , which is holding its annual general meeting in India after a gap of 42 years."There is a lot of confidence people are drawing from the transformation of Air India but also Indian aviation. (People are more) willing to invest in India."The fact that there is going to be a much more sizeable Indian-domiciled fleet gives all sorts of businesses a rationale to invest because there is a local market in addition to an export market for services and support. So, surely the interest is coming and I think the benefits will accrue in the years to come," the Air India CEO and MD said.More than 2,500 civil aircraft are expected to come into India in the next 20 years.Air India and IndiGo have placed orders for more than 1,000 planes in recent years. The Tata Group-owned Air India is also in the middle of a five-year transformation plan.Wilson also stressed that there is a healthy competition in India among airlines.While emphasising that there is an air about India, Wilson, who has been helming Air India for nearly three years, also said the country is having an increasing say and an increasing share of voice at the OEMs (Original Equipment Manufacturers)."The biggest aircraft orders in history have been made by the Indian carriers in the last couple of years. India is a large market and by far, the fastest growing large market in the world," he said.On Friday, IATA Director General Willie Walsh said India's place in global aviation has changed dramatically, particularly over the last decade. The country has seen record aircraft orders, impressive growth, and world-class infrastructure developments, he added.The International Air Transport Association (IATA) represents about 350 airlines comprising over 80 per cent of the global air traffic.