Union Minister of Civil Aviation attended the annual event of Air Cargo Forum India (ACFI) as the chief guest.
The theme of the annual event was “10 Million: Vision 2030; Stimulating, Scaling, Steering Air Cargo”.
| Utility: UPSC, JPSC, BPSC Prelims & Mains Section: Economy / Sectors / Transportation |
Key Points
- During the last 2 years in Covid times, the cargo sector has emerged as a promising area not just for Indian aviation but for global aviation.
- Indian Cargo Sector has seen a growth rate of 9-10% since 2013-14.
- During the last 2 years, airlines have witnessed a 520% increase in cargo revenue.
- As of today, Indian Cargo revenue stands at INR 2,000 crore with 3.1 million metric tonnages having a CAGR of 13%.
- Today, India has 21 international and 35 domestic cargo terminals.
- To achieve the target of 10 million metric tons in cargo, the industry players need to focus on the transportation of smaller cargo loads from Tier II & III cities to metros.
- To facilitate this, GoI is aiming to establish 33 new domestic cargo terminals by 2024-2025.
- Ministry of Civil Aviation will be spending close to INR 98,000 crores over 4 years in terms of setting up new greenfield airports and expansion of existing brownfield airports.
- Out of this, INR 62,000 crores will be invested by the private sector and INR 36,000 crores will be invested by the Government of India through AAI.
- Government, through AAI, will expand 42 brownfield airports and set up 3 new greenfield airports.
- The private sector will expand 7 existing brownfield airports and set up 3 new greenfield airports including Navi Mumbai, Jewar, and Mopa.
- Note: Air Cargo Forum India (ACFI) is an association of various stakeholders of Air Cargo Logistics Supply Chain Trade and Industry.
