India’s Airline Sector is not just on the rise; it’s setting new global benchmarks and offering a multitude of opportunities. Boeing India President Salil Gupte recently highlighted the remarkable growth of this sector, with a robust 6.97 percent expansion over the past few years. This growth mirrors India’s economic prowess and its close alignment with the country’s remarkable GDP growth.
A Sector in Synergy with GDP
In a conversation with ANI, Salil Gupte underlined the unique position of India’s airline sector as the world’s fastest-growing. He noted that it has witnessed a remarkable growth rate of approximately 6.97 percent over recent years. Gupte drew a direct correlation between this surge and India’s impressive GDP growth, which stands out even among major global economies. This connection suggests that as India’s economy continues to expand, the airline sector will ride the wave of this growth.
‘Make in India’ Fuels Expansion
The expansion of India’s airline sector receives a substantial boost from the government’s ‘Make in India’ initiative. This initiative has nurtured a spirit of ambitious global business engagement among Indian companies. Gupte praised the initiative for its broad vision, extending beyond mere manufacturing to encompass exports and economic value generation in both services and production. Launched in 2014, ‘Make in India’ seeks to transform India into a hub for manufacturing, design, and innovation, encouraging global investment and fostering innovation.
Strategic Sectoral Focus
Under the ‘Make in India’ 2.0 program, significant strides have been made, with the initiative now targeting 27 sectors. The Department for Promotion of Industry and Internal Trade (DPIIT) is leading the action plans for 15 manufacturing sectors, while the Department of Commerce is overseeing 12 service sector blueprints. These focused efforts are setting India on the path to becoming a leading exporter, further amplifying the potential for India’s airline sector.
Conclusion: A Horizon of Opportunities
With government initiatives aligned with industry growth, India’s airline sector is on the verge of a new era marked by global competitiveness and service excellence. As the sector expands in tandem with the country’s GDP and ‘Make in India’ fosters an export-oriented mindset, India’s airline industry is well-positioned to sustain its upward growth trajectory and play a pivotal role in the nation’s economic narrative.
