Expectation is that the market is due to grow by more than 180%, while manufacturing will rise by 14% in the years leading up to 2022. These are the estimates of government officials who have been speaking at the Air Cargo India event in Mumbai.
One speaker, Renu Singh Parmar, who is a senior adviser at the country's Ministry of Civil Aviation, estimated that India's air cargo throughput would rise from 2.6m tonnes in 2015 to approximately 8.7m tonnes by 2030. This leap would necessitate an improvement in supply chain logistics and airport infrastructure across the subcontinent.
With the push for made in India goods, it is expected that the country’s manufacturing share of the GDP will appreciate over the coming six years. To assist growth, India's air freight industry has been granted a ten year tax break for any infrastructural improvements made at an Indian airport. Furthermore, the industry has made a strong push to adopt paperless air waybill technology and create free trade zones. The construction of new warehouses is on the cards and the streamlining of customs processing procedures should help further improve the cargo flow at airports.
