India's aviation sector storms into world's top 3 markets, creates 7.7 million jobs
New DelhiIndia Aviation, IATA, Aviation Market, Job Creation, Air Traffic, Economic Growth: India's aviation industry has expanded at a rapid pace to become the world's third-largest aviation market in terms of passenger traffic, according to a report compiled by the International Air Transport Association (IATA).
IATA's country director for India, Nepal and Bhutan, Amitabh Khosla, said India's rise to the third rank in the global market comes on the back of stronger airlines, growth of connectivity, and increased airport infrastructure.
He described the aviadtion industry as a key driver of employment, economic activity, international trade and investment in the country.
India's aviation now accounts for 1.5 per cent of the country's Gross Domestic Product (GDP) and has created approximately 7.7 million jobs, both directly and indirectly, across the country, the report states.
Khosla said, 'In 2023, the industry made a $53.6 billion contribution to India's economy, underpinning 7.7 million jobs in the country.'
Tourism, supported by aviation, contributes Rs 2,710 crore to the GDP. International tourists add another $29.4 billion annually to the economy through local purchases of goods and services. 'Overall the travel and tourism sector accounts for 6.5 per cent of the nation's GDP and 8.9 per cent of total employment in 2023,' he added.
The Middle East remained the top international destination for Indian flyers in 2023, with 13.7 million passengers, followed by the Asia Pacific region and Europe.
To meet growing demand, airlines have ramped up flight frequencies and seat capacities. Scheduled flights increased by 77.7 per cent to around 1.3 million in 2024. Most of these were domestic, flights with increased from 613,000 flights in 2014 to nearly 1.1 million in 2024. Indigo led this expansion, operating 53 per cent of all departing flights from and within India.
Consumers have also benefited from increased competition, which led to a 25 per cent reduction in real airfares in 2023 compared to 2011, Khosla noted.
Currently, India has 116 airports offering commercial scheduled services, with 96 of them providing direct connections and 521 outbound international flights each day. Over the last five years, 103 new international routes have been introduced. There are currently 99 operational airlines in the country.
India has also established itself as the sixth-largest air cargo market in the world, transporting 3.3 million tonnes of air freight in 2023.
As of December 2024, the international sector stood nearly 20 per cent above its 2019 levels, while domestic operations were over 8 per cent higher which reflects the strong outlook for the future, he added.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
21 minutes ago
- Time of India
55% employment to Kannadigas in group A, B in all industries: Patil
Dharwad: The state govt is committed ensure employment to Kannadigas in industrial sector and it has brought in a new policy regulating the industries setting up their units in Karnataka to reserve jobs for Kannadigas, said industries minister MB Patil. Tired of too many ads? go ad free now Speaking to reporters in Dharwad recently, he said that as per the new policy, the industries have to reserve 55% of jobs for Kannadigas in A and B categories, while the reservation in group C and D is capped at 75%. The industries too have agreed to the concept and hence emphasis has been laid to provide more employment opportunities to Kannadigas, he said. Patil stated that the Global Investors' Meet has been a success. It attracted proposals worth Rs 10 lakh crore. "We expect at least 70% of these proposals turn into a reality and the department is constantly following up with the companies", he added. The govt, in a bid to correct regional imbalance and facilitate setting up of industries in tier-two cities, has launched 'Beyond Bengaluru' scheme. The GIM too has focussed on this policy. 75% of the proposals have been asked to look for land outside Bengaluru and 40% of them in North Karnataka. Therefore, there will be industrial boom in North Karnataka very soon, he added. On FMCG cluster in Hubballi-Dharwad, Patil acknowledged that the land prices have shot up and the govt has nothing to do with it. Many farmers whose lands were identified for acquisition have moved to the courts seeking better compensation. Based on the verdicts of the courts on compensation, the KIADB has fixed the final price. However, the department is in constant touch with firms willing to set up FMCG units, he added. Tired of too many ads? go ad free now Patil said NIDAC has set up its plant at Belur Industries in Dharwad and the plant has come up with an estimated cost of Rs 600 crore. It will generate 800 direct and 900 indirect employment thus supporting 3,000 families. The company which manufactures batteries and convertors in collaboration with Japan and France has plans to expand its operation and will generate over 4,000 employment in next two years, he said. The product will be exported to US and other countries.
Time of India
36 minutes ago
- Time of India
Tobacco market in Andhra Pradesh in crisis due to slump in global demand
Vijayawada: Poor demand in the global markets has induced serious crisis in tobacco market in Andhra Pradesh. In fact, the tobacco growers themselves put the traders in advantageous position by producing almost 40 percent surplus crop than the authorized stock. Tired of too many ads? go ad free now Betting high on the prices fetched by the FCV (virginia) tobacco growers during the last season, hundreds of farmers swung into cultivation of black burley tobacco causing further crisis in the market. The state govt is virtually struggling to achieve balance between the growers' demands for high prices and the slow response from the traders to pick up stock. Virginia tobacco growers have been complaining about rejection of stocks in the auction platforms particularly in Ongole-I, Ongole-II and Vellampalli platforms in Prakasam district. In order to escape from the demands for high price, the traders are simply rejecting the stocks without offering any price. While the farmers are expecting a price of anywhere around Rs 300 per kg, the traders are ready to pick up the stock between Rs 220 and Rs 250 per kg. State govt held several rounds of discussions with the big exporters, cigarette manufacturing companies and requested them to pick up stocks to avoid further protests from the field. However, the situation did not ease as traders are still awaiting for export orders. CPI(M) state secretary V Srinivasa Rao demanded that the Centre must purchase stocks through state trading corporation (STC) or tobacco board. He criticized the state and Union govts for not responding to the tobacco growers' concerns. The tobacco board authorized a crop of 167 million kg for FCV during the 2024-25 crop season after taking feedback from the growers and traders. Tired of too many ads? go ad free now Sensing trouble that farmers might go for additional crop, board chairman Yaswanth Kumar Chidipothu himself went around the tobacco growing districts and appealed to farmers to stick to the authorized stock. However, several farmers went ahead with the additional crop and the production touched almost 240 million kg, which is nearly 70mkg higher than the authorized crop size. Taking advantage of the situation, exporters and traders deliberately slowed down the purchase apparently to exert pressure on the growers. The growers too did not realise the situation in the initial weeks and sticked to their demand for a price above Rs 300 per kg. The stalemate led to almost no purchase situation in the auction platforms. After nearly 70 days of launching the auctions, just 52 mkg of stock was purchased, of the total expected production of 240 million kg. The growers are worried that it might take at least 4 to 5 months to pick up the authorized crop and another two months to pick up surplus stock. This means that auctions might not be going to be completed any time before Nov. Even as the FCV growers struggle to overcome the crisis, the cultivation of about 80 mkg of black burley, which is just a mixing stock, has deepened the crisis. While the white burley was almost picked up by the traders as per the bond, the black burley was left unattended.
Time of India
36 minutes ago
- Time of India
Tribal museum to come up in Pachmarhi
Bhopal: CM Mohan Yadav said on Tuesday inaugurated and laid the foundation stones for various tourism development projects worth over Rs 33 crore. He announced that Pachmarhi Garden will now be known as 'Raja Bhabhut Singh Udyan'. Tired of too many ads? go ad free now Similarly, the Government College in Pachmarhi will be renamed Raja Bhabhut Singh Government College. He also announced the establishment of a tribal museum in Pachmarhi and the construction of a waiting area and tin shed at the sacred site of the Korku community. Yadav said a logistics park would be developed in Narmadapuram, which will bring a new wave of development to the region. He further remarked that Pachmarhi was renowned across India and the world for its unparalleled natural beauty and that the region also holds great historical significance. "The govt is removing developmental hurdles to transform Pachmarhi into one of the most popular tourist destinations. The state govt has opened the doors to Pachmarhi's growth. " The chief minister said that to honour the valour and sacrifice of Raja Bhabhut Singh, a symbol of courage and patriotism, the state govt held a cabinet meeting in Pachmarhi, thereby bringing his legacy before society at large. Raja Bhabhut Singh was a towering personality who bravely fought the British with valour and set a stellar example of patriotism. He will remain immortal in the collective memory and culture of Madhya Pradesh. Yadav said that today is a moment of pride for the descendants of Raja Bhabhut Singh. Bhopal: CM Mohan Yadav said on Tuesday inaugurated and laid the foundation stones for various tourism development projects worth over Rs 33 crore. He announced that Pachmarhi Garden will now be known as 'Raja Bhabhut Singh Udyan'. Similarly, the Government College in Pachmarhi will be renamed Raja Bhabhut Singh Government College. Tired of too many ads? go ad free now He also announced the establishment of a tribal museum in Pachmarhi and the construction of a waiting area and tin shed at the sacred site of the Korku community. Yadav said a logistics park would be developed in Narmadapuram, which will bring a new wave of development to the region. He further remarked that Pachmarhi was renowned across India and the world for its unparalleled natural beauty and that the region also holds great historical significance. "The govt is removing developmental hurdles to transform Pachmarhi into one of the most popular tourist destinations. The state govt has opened the doors to Pachmarhi's growth. " The chief minister said that to honour the valour and sacrifice of Raja Bhabhut Singh, a symbol of courage and patriotism, the state govt held a cabinet meeting in Pachmarhi, thereby bringing his legacy before society at large. Raja Bhabhut Singh was a towering personality who bravely fought the British with valour and set a stellar example of patriotism. He will remain immortal in the collective memory and culture of Madhya Pradesh. Yadav said that today is a moment of pride for the descendants of Raja Bhabhut Singh.
