TIWN
New Delhi, Aug 25 (TIWN): Indian aviation is under-penetrated compared to China and near peers like Indonesia, as per a report by industry body Assocham, which said that Indian carriers need to increase product quality to compete with international carriers like Singapore Airlines and Emirates which have high standards of service.
The report on 'Civil Aviation: The Roadmap for Robust Growth Over Next Decade' observed that this is largely a function of relatively lower income levels compared to China and Indonesia. However, the Indian market harbours immense potential, considering rising income levels and its vast population, it said.
It said that the Chinese aviation market grew four times between 2007 and 2022 as income levels rose and the Indian market is poised for a similarly impressive growth.
- IMF expects India to rev up global growth as China falters, backs Modi government's economic policies
- realme set to shake up market: Launching fastest entry-level 5G smartphone 'C65' under Rs 10k
- India's industrial production accelerates to 5.7pc in Feb
- India records 17 pc jump to become 4th largest exporter of digital services: WTO report
- 300 pc rise in market cap to Rs 400 lakh crore in last 10 years driven by strong economic fundamentals