Embracing Sustainable Growth with Delhi Declaration

- The 2nd Asia Pacific Ministerial Conference on Civil Aviation concluded successfully with the adoption of the Delhi Declaration. 

- The Delhi Declaration aims at enhancing regional cooperation, addressing emerging issues and fostering sustainable growth in the civil aviation sector.

- The conference was organised by the Ministry of Civil Aviation in collaboration with the International Civil Aviation Organization (ICAO). 

- The majority of the conference involved discussions and presentations focused on the future of aviation in the Asia Pacific region.

 

Sky rocketing Development of Indian Aviation Sector

- India holds the position of the world’s third-largest aviation market and is among the major fastest-growing aviation markets globally.

- The International Air Transport Association (IATA) forecasts that India is anticipated to overtake China and the United States to seize the position of world's third-largest air passenger market by 2030.

- In FY24, India's airports recorded a 13.5% YoY growth in domestic passenger traffic reaching 306.79 million and a 22.3% YoY growth in international passenger traffic to be 69.64 million over the previous year.

 

Government Initiatives and Policies Supports for Aviation Sector

- According to the budget allocations for 2024-25, the Ministry of Civil Aviation was allotted Rs. 2,357 crore (US$ 282 million).

- The Indian government has approved 100% FDI via the automatic route for the maintenance, Repair, and Overhaul (MRO) sector.

- NABH (NextGen Airports for Bharat) - Nirman initiative aims to expand airport capacity more than five times to handle billions of trips a year in the upcoming 10-15 years.

- AAI Startup Policy aims to provide a framework and mechanism for the interaction of AAI with various stakeholders that catalyse innovation at airports and enhance the delivery of services to passengers through technological advancements.