Indian Aviation scales dizzy heights amid stronger tailwinds

With the end of travel restrictions amid a sharp fall in COVID cases, the aviation sector was the obvious beneficiary. Aviation saw an enormous growth in domestic traffic during FY23. From cumulative domestic traffic of 827.45 lakhs in first 9 months of FY22, the numbers have grown 49% to 1,232.42 lakh passengers in the first 9 months of FY23.

  

The Minister of Civil Aviation, Jyotiraditya Scindia, took to Twitter to share the delightful news of the aviation sector’s redemption. He also expressed gratitude to PM Narendra Modi for his reforms and strategies and visionary leadership that catalysed the recovery.

 

India has been ranked as the fastest-growing aviation market by the International Air Transport Association (IATA); despite a period of stagnation following the pandemic. But to maintain the momentum of pre-COVID growth, the Government of India instituted the UDAN (Ude Desh ka Aam Nagrik) regional connectivity scheme back in 2016. This has made aerial services more accessible to Indians who dwell in Tier 2 and Tier 3 cities, and has drastically augmented airline usage across the country.

 

Putting things into context, this rejuvenation of the Indian aviation sector is commendable. Till the 1990s, only four major metros viz. Delhi, Bombay, Madras and Calcutta served as international hubs, with Trivandrum being the fifth addition in 1991. Indian aviation was feeble and not even a fraction of what it is today. This vertical mobility is indeed a remarkable feat, and the only way ahead for the sector is upwards.

Related Blogs
blog-logo

Share Market

blog-logo

8 mins read . 19 Jul 2024

Stock Market Trading Time in India

  • 0 people read
blog-logo

Share Market

blog-logo

11 mins read . 19 Jul 2024

How To Trade in T2T Stocks

  • 0 people read
Kickstart your equities journey today You've got this
By submitting this I agree to the terms & conditions