Aviation sector acts as a catalyst of economic growth, social development and tourism. Air transport currently supports 56.6 million jobs and accounts for over US$ 2.2 trillion of the global gross domestic product (GDP).
Air passenger traffic in India is increasing at a tremendous pace. The sub-continent's airport infrastructure is undergoing modernisation with the induction of most advanced facilities like setting up of new Greenfield airports and installation of security, surveillance and air traffic navigation systems.
India is the 9th largest aviation market handling 121 million domestic and 41 million international passengers. Today, more than 85 international airlines operate to India and 5 Indian carriers connect over 40 countries.
The air transport (including air freight) in India has attracted foreign direct investment (FDI) worth US$ 456.84 million from April 2000 to July 2013, according to the data released by Department of Industrial Policy and Promotion (DIPP).
Indian aviation market is expected to become the third largest across the globe by 2020. This industry currently accounts for 1.5 % of the GDP. Given the huge gap between potential and current air travel penetration in India, the prospects and possibilities of growth of Indian aviation market are enormous.
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