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Indian minister predicts 25% annual growth in air travel for the next five years
AIRLINE INDUSTRY INFORMATION-(C)1997-2005 M2 COMMUNICATIONS LTD
The Indian civil aviation minister Praful Patel has said that the Indian air travel industry is expected to grow at 25% annually.
The industry, which is rapidly expanding, is expected to need some USD50bn of investment for aircraft and infrastructure over the next decade.
Patel said that the investment will be needed to cope with the rising demand.
The minister predicted an industry growth of 25-30% this business year to March 2006 and 25% growth a year over the next five years, Reuters reported.
