years: Jayant SinhaSrinagar, Dec 7 (PTI) India's aviation market wouldsurpass the US and China by crossing a billion passenger tripsper year in the next 10 to 15 years, Union Minister of Statefor Civil Aviation Jayant Sinha said here today.
Sinha, who was speaking at the day-long Ideas Summit 2017of entrepreneurs here, said the aviation industry now equaledthe Indian Railways in terms of turnover as it generated atotal revenue of about Rs 1.8 lakh crore this fiscal.
"The growth in aviation sector is unprecedented. In thelast three-four years, we have actually been growing at 15-20per cent. From 100 million passenger trips a few years ago wewill double to about 200 million passenger trips this fiscal.
In fact, India is already the third largest domestic aviationmarket in the world only after the US and China," he said.
The US stood at around 900 million passenger trips peryear and China was at 600 million, Sinha said, adding thatprojections point at India growing to a one billion passengertrips market in the next 15-20 years.
"So, from 500 planes in the sky, we will have to go toabout 2000 planes," Sinha said at the event organised by theFoundation for Resource Development and Education at SKICC.
The Union minister said aviation was going to be one ofthe largest industries in India and airlines had placed ordersfor over 900 planes.
"If you think that we are just making up these numbers,let me tell you that today our airlines have already placedorders for 935 planes," he said.
He said the government is trying to spread airconnectivity throughout the country. "We have grown theaviation sector to see the PM's dream of 'sab udenge, sabjudenge' being realised," he said.
The minister said the aviation industry generated aturnover of about Rs 1.8 lakh crore this fiscal which is equalto that of the Indian Railways.
"Today the airline industry is as big as the IndianRailways and the Indian telecom industry," he said.
In 2014, the country had about 75 operational airportsand through the regional connectivity scheme 'Udaan', thegovernment added 25 more airports to the aviation network thisyear and now there are 100 operational airports, Sinha said.
"For J-K, you will probably have five or six more airports,"he added. PTI SSB MIJIJT.
This is unedited, unformatted feed from the Press Trust of India wire.