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![Low cost carriers dominate Indian skies and account for more than 60 per cent of the flights in the country [Xinhua]](http://thebricspost.com/wp-content/uploads/2016/07/Indi620p88-e1468998313968.jpg)
Low cost carriers dominate Indian skies and account for more than 60 per cent of the flights in the country [Xinhua]
An earlier forecast had said India would need 1,740 planes in the next two decades.
Demand will be boosted by low crude oil prices and future growth of passenger demand in regional routes, said Boeing.
“India continues to have a strong commercial aerospace market and the highest domestic traffic growth in the world,” said Dinesh Keskar, senior vice president, Asia Pacific and India sales at Boeing Commercial Airplanes.
Air traffic growth in India has been fueled by rising incomes and affordable fares.
“With the new aviation policies in place, we even see greater opportunities, and remain confident in the market and airlines sector in India,” Keskar said.
The air-travel market in India grew 20 per cent in 2015, compared with about 10 per cent in China and less than 5 per cent in the US, according to the International Air Transport Association.
Last month, India overhauled rules governing its aviation industry, liberalising norms for domestic carriers to fly overseas and spreading the country’s air travel boom to smaller cities by capping airfares and opening new airports.
Low cost carriers dominate Indian skies and account for more than 60 per cent of the flights in the country.
India plans to invest $5 billion to improve airport infrastructure, which is “inadequate” compared with China’s proposal for $130 billion in 15 years, a June research paper by KPMG and the Associated Chambers of Commerce of India said.
TBP and Agencies
