Hyderabad: India has come a long way over the last five years in terms of aviation growth, considerably improving its ranking and with right policies in place, it could emerge as the third largest aviation market by 2029, according to Airports Council International (ACI).
"India improved its ranking from 101st in 2007 to 12th in 2010 in terms of airport maintenance, traffic handling and passenger facilities and is expected to be the third largest aviation market by 2029," Rafael Echevarne, Director, Economics and Programme Development, Airports Council International said at the India Aviation-2012 meet Thursday.
He, however, said India would require to put in place a regulatory framework that encourages investment, ensures safety and facilitates development of tourism.
Meanwhile, groundwork done by the Ministry of Civil Aviation in consultation with the industry stakeholders towards a National Aviation Policy was appreciated by the industry captains at today's meet.
Amber Dubey, Director Aviation, KPMG, which is the knowledge partner of India Aviation 2012, said initiatives such as formulating an Air Cargo Promotion Policy, proposal to set up a full-fledged aviation university, investments in MRO hubs are positive steps taken by the Government.
He, however, felt that there is an urgent need to develop no-frill airports in tier two and three cities in keeping with increase in air passengers in the country.
Nasim Zaidi, Secretary, Ministry of Civil Aviation released two reports on aviation industry titled 'India: The Emerging Aviation Hub' by KPMG and 'Economic Benefits from Air Transport in India' by Oxford Economics.