Indian aviation market has huge potential waiting to be tapped: Top industry experts
aviation market has a «huge potential» waiting to be tapped, and a growing middle-class and a young population usually showing a greater propensity to travel will contribute to its growth, top experts of the industry have said. Besides, privatisation of airports has been a «big boost for aviation», and huge investment is happening in new airports and existing airports in India, said Nipun Aggarwal, Chief Commercial & Transformation Officer, Air India.
Aggarwal of Air India, CEO of IndiGo, Pieter Elbers; CEO of SriLankan Airlines, Richard Nuttall and Country Director for the International Air Transport Association (IATA) in India Amitabh Khosla, were among leaders of the aviation industry who took part in Indian Travel Congress 2023 hosted recently in Colombo, as part of the efforts to boost tourism in the cash-strapped island nation. The industry experts concurred that the growth in the aviation sector will in turn fuel the growth in the tourism sector, both of which were badly hit globally after the outbreak of the COVID-19 pandemic, but have shown resilience, and are recovering on the right trajectory.
«In so far as aviation is concerned, we are extremely bullish on the long-term prospects of the industry. Indian aviation is the third-largest and fastest-growing market in the world, growing at almost 10 per cent for the last decade, almost 2.5 times the global average,» Aggarwal said.
He was speaking in a panel discussion on 'India Tourism Vision 2047: A Transformed Landscape of Experiences and Connections', held as part of the 67th annual convention of the TAAI (Travel Agents Association of India) — Indian Travel Congress — in the Sri Lankan capital from July 6-9. «Aviation is very closely related to GDP (Gross
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