Air Cargo To Grow at 9 per cent in Next Few Years

Image
Capital Market
Last Updated : May 05 2017 | 10:28 AM IST
The Minister for Civil Aviation, Shri Ashok Gajapathi Raju said that the country has seen significant growth in domestic air traffic and infrastructure development. He said that his Ministry is taking steps to make air transport affordable to the common man through the Regional Connectivity Scheme. He also said that air cargo which is likely to grow 9% in a next few years and hence logistic parks will help that growth.

The Secretary of Ministry of Civil Aviation, Shri R.N. Choubey informed that air cargo globally and domestically constituted just 1% in terms of volume, but almost 25% in terms of value as air cargo was mostly valuable, perishable and time sensitive. He said that a Common Framework would be created in a years time for air cargo so that freight operators, airlines, security as well addressees come within one system. This will bring efficiency in handling air cargo. The Secretary also informed that Common User Cargo Terminals would be created at 17 airports. He also said that the free period for air cargo had been brought down from 72 to 48 hours to ensure faster movement out of terminals. He said that Civil Aviation would be a great beneficiary of all the steps taken to improve transport and logistics in the country and therefore had great expectations from the Summit.

Powered by Capital Market - Live News

Disclaimer: No Business Standard Journalist was involved in creation of this content

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: May 05 2017 | 10:09 AM IST

Next Story