In a notable development, the White Paper presented by Finance Minister Nirmala Sitharaman in Parliament highlighted the remarkable growth and transformation witnessed by India's aviation industry over the past decade. According to the White Paper on Indian Economy, the number of airports in the country surged from 74 in FY15 to 149 in FY23, indicating a substantial expansion.
Furthermore, the length of national highways experienced a significant increase from 0.98 lakh km in FY15 to 1.45 lakh km in FY23, while cargo traffic at major ports saw a notable rise from 581 million tonnes to 784 million tonnes during the same period.
Another noteworthy achievement highlighted in the White Paper is the expansion of electrified rail routes, which escalated from 22,224 km in FY15 to 50,394 km in FY22, demonstrating considerable progress in enhancing railway infrastructure across the country.
Data from the Ministry of Civil Aviation underscores the significant strides made in the aviation sector. Prior to 2014, India had 74 scheduled operational airports, a number that has now doubled to 149, reflecting the sector's expansion and development over the years.
During the six-year period from 2014-15 to 2019-20, Indian airports witnessed a robust double-digit Compound Annual Growth Rate (CAGR) of 12.4 percent in terms of total passenger traffic, highlighting the industry's resilience and growth trajectory.
Despite the challenges posed by the Covid-19 pandemic, the Indian aviation industry has shown remarkable resilience, with total passenger traffic recovering to 96 percent of pre-Covid levels during the fiscal year 2022-23.
Moreover, in the past 12 months, significant milestones have been achieved, including the operationalization of two greenfield airports in Rajkot, Gujarat, and Shivamogga, Karnataka. Additionally, new terminal buildings have been developed at several airports across the country, including Trichy, Ayodhya, Surat, Chennai, Tezu, Kanpur, and Port Blair, further enhancing the country's aviation infrastructure and passenger facilities.
Overall, these developments underscore India's commitment to modernizing its transportation infrastructure and fostering the growth of the aviation sector, which plays a crucial role in driving economic development and connectivity across the country.
(With Agency Inputs)
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