New Delhi, June 2
India’s aviation industry has expanded at a rapid pace to become the world’s third-largest aviation market in terms of passenger traffic, according to a report compiled by the International Air Transport Association (IATA).
IATA’s country director for India, Nepal and Bhutan, Amitabh Khosla, said India’s rise to the third rank in the global market comes on the back of stronger airlines, growth of connectivity, and increased airport infrastructure.
He described the aviation industry as a key driver of employment, economic activity, international trade and investment in the country.
India’s aviation now accounts for 1.5 per cent of the country’s Gross Domestic Product (GDP) and has created approximately 7.7 million jobs, both directly and indirectly, across the country, the report states.
Khosla said, “In 2023, the industry made a $53.6 billion contribution to India’s economy, underpinning 7.7 million jobs in the country.”
Tourism, supported by aviation, contributes Rs 2,710 crore to the GDP. International tourists add another $29.4 billion annually to the economy through local purchases of goods and services. “Overall the travel and tourism sector accounts for 6.5 per cent of the nation’s GDP and 8.9 per cent of total employment in 2023,” he added.