India is the world"™s fastest growing aviation market with the number of air passengers likely to cross 100 million this year. Till June this year, Indian aviation industry had clocked 18.3% growth in domestic passenger market, thanks to the subsidized regional connectivity scheme named UDAAN, which provides one hour flight at approximately $38.
Going by the annual growth rate of 22% for the year 2016-17, the domestic air traffic, carried by scheduled Indian carriers, could reach about 126 million passengers during 2017-18. The provisional annual growth for the year 2016-17 for international air traffic passengers, carried by scheduled carriers is about 10 per cent," Jayant Sinha, India"™s Minister of State for Civil Aviation, said in Parliament last week.
According to the Boeing report, India can order 1,780 planes having capacities of 90-230 passengers. This will provide business of $195 billion to the aircraft manufacturers…
