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With the aviation industry growing at 18% CAGR, India needs up to 3,000 aircraft in the next 10 years, according to the civil aviation minister
India needs at least 400 airports and 3,000 aircraft in the next 10 years to keep pace with growing demand, Union civil aviation minister Praful Patel said at Hyderabad on Wednesday, reports PTI.
He said as the aviation industry has been growing at 18% compounded annual growth rate (CAGR), the country needs up to 3,000 aircraft in the next ten years. He also underscored the need for making air travel safer and more secure.
"Our job is not over by creating infrastructure for (the) aviation industry to grow. We need safe and secure aviation. Indian aviation will not grow at the cost of safety and security," the minister said during the inauguration of India Aviation-2010, a five-day exhibition and conference on international aviation that began today.
He said that the bidding process for the Navi Mumbai airport is expected to be completed in a year.
Separately, American ambassador to the country Timothy J Roemer said that the US would partner public and private sectors to support and modernise the Indian aviation sector.
"The USA would work with Indian public and private sector partners to create economic opportunities and jobs in both the countries. US companies participating in the show are ready to partner India for its goal of modernising and upgrading airports, improving air-traffic flow and making it a regional aviation hub," he said.
Mr Roemer was speaking after the inauguration of the US Pavilion at the 'India Aviation-2010'.
He advised the US business community to seize every opportunity during the event to facilitate greater co-operation between the two countries in the sector.
The US is under special focus during 'Indian Aviation- 2010' and it was the official partner for the previous edition of the event.