India plans to be a global aviation hub and one of top three aviation markets worldwide by 2020 as the passenger traffic at airports here is expected to increase to 450 million by then from 159.3 million in 2012-2013, a senior Aviation ministry official said today.
“The aviation sector is likely to see investments totalling USD 12.1 billion during 12th Five Year Plan, out of which USD 9.3 billion is expected to come from the private sector. 200 low-cost airports are planned to be built in the next 20 years to connect tier-II and tier-III cities. “USD 1.3 billion is planned to be spent on non-metro projects during 2013-17, mainly focusing on the modernisation and upgradation of airports,” Anil Srivastava, Joint Secretary Ministry of Civil Aviation, said in a statement. Speaking on the highlights of the 5th Edition of India Aviation starting from tomorrow here at Begumpet Airport, Srivasatava said more than 200 major participants are expected to take part in the show.