Big bucks in the air: Aviation sector to attract $120 billion in 10 yrs

The Prime Minister, Dr. Manmohan Singh has inaugurated the integrated tehe T-3 Terminal of Delhi’s Indira Gandhi International Airport.

Here are some of the points that he has made:

• We are all very happy and indeed very proud of the completion of our one of the world’s largest airport terminals in a record time of 37 months.
• This airport terminal establishes new global bench marks. It also exemplifies our country’s resolve to bridge and bridge fast enough the infrastructure deficit in our country.
• It proves the success of the Public Private Partnership model in execution of large infrastructure projects. It also proves our capacity to coordinate across agencies and governments and work as a united team.
• 
  
• The aviation sector is a vital to India’s sustained economic growth. It plays a major role in generating tourist flow, accelerating industrial development, creating new jobs and integrating our country. In a span of a few years, India has become the 9th largest aviation market in the world. We now have 10 scheduled airlines operating in our country, compared to 2 in 1990.
• It is estimated that India’s aviation sector has the potential to absorb up to US$ 120 billion of investment by the year 2020. Analysts predict that domestic traffic can reach 160 to 180 million and international traffic in excess of 50 million by the year 2020.
• An airport is often the first introduction to a country. A good airport would signal the arrival of new India, committed to join the ranks of modern, industrialized nations of the world. We should have airports that are receptive to the comfort of passengers even as they meet the highest standards of efficiency and safety. They should employ the most modern of technologies but also exude cultural warmth.
• Let me end by once again emphasizing the need to rapidly improve our physical infrastructure. This is one area where we have been lagging behind but I am confident that in the time to come we will achieve much more than in the past. I hope to see many such successful projects in the future.
• This will be in keeping with our ambition, our aspirations and our new found confidence in recent years.