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.
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• 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.

Let's fight the current crisis unitedly, says PM

NEW DELHI: Prime Minister Dr Manmohan Singh today expressed the confidence that India will survive the current global financial crisis and emerge stronger “if we have the imagination, sense of unity and the will to work together as a united nation”.

Addressing the HT Summit 2008 in New Delhi, Dr Singh noted that the global economy is today, going through choppy waters. “Our century I sincerely believe will be shaped by how we respond to the global economic crisis today. If nations look only inwards and imagine that they can solve their problems on their own, they will fail and fall. The world has become more integrated and inter-dependent. In both good and bad, in prosperity and peril, in opportunity and crisis we must recognise the new inter-dependencies of nations and no nation is an island into itself,” he said.

Competitive politics must not be allowed to divide our people on the basis of religion, caste or region. At home and globally we seek an inclusive growth process.

He recalled that at the recent G-20 Summit last week he has urged world leaders to recognise these inter-dependencies and our stake in our collective future. We need a global safety net so that the poor of the world do not pay a price for the profligacy of the rich, and the delinquency of a few.

He said: “Global problems require global solutions. This is the most important lesson of the past century for the present century. But global institutions of governance must be made more inclusive and more representative. The voice of the developing world must be heard in the high councils of global decision-making.”

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Let's fight the current crisis unitedly, says PM

NEW DELHI: Prime Minister Dr Manmohan Singh today expressed the confidence that India will survive the current global financial crisis and emerge stronger “if we have the imagination, sense of unity and the will to work together as a united nation”.

Addressing the HT Summit 2008 in New Delhi, Dr Singh noted that the global economy is today, going through choppy waters. “Our century I sincerely believe will be shaped by how we respond to the global economic crisis today. If nations look only inwards and imagine that they can solve their problems on their own, they will fail and fall. The world has become more integrated and inter-dependent. In both good and bad, in prosperity and peril, in opportunity and crisis we must recognise the new inter-dependencies of nations and no nation is an island into itself,” he said.

Competitive politics must not be allowed to divide our people on the basis of religion, caste or region. At home and globally we seek an inclusive growth process.

He recalled that at the recent G-20 Summit last week he has urged world leaders to recognise these inter-dependencies and our stake in our collective future. We need a global safety net so that the poor of the world do not pay a price for the profligacy of the rich, and the delinquency of a few.

He said: “Global problems require global solutions. This is the most important lesson of the past century for the present century. But global institutions of governance must be made more inclusive and more representative. The voice of the developing world must be heard in the high councils of global decision-making.”

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