Korolev A.S. The development of Indian aviation industry at the present stage

Abstract: Being the fourth economy in the world and the second most-populous country, India, sooner or later should have become an important segment of the air transport market. Indian aviation industry has great potential due to the dynamic growth of the middle class, increasing disposable personal income, state support, rising foreign direct investment. In addition to internal resources, the aviation industry in India has great potential in terms of the opportunities for international cooperation, both as a member of BRICS, especially as a country whose representative – the President of the New Development Bank BRICS and as an active participant of the Asian dialogue platforms. India is a leader of South Asia, where Open Skies Agreement is in force, which allows international airlines to carry out operations in the airspace of the signatory powers. The synergetic effect of cooperation with developing countries (China, Russia, and Brazil) will contribute to the gradual resolution of the fundamental problems which Indian aviation industry faces nowadays (overcapacity, high level of debt loads, liquidity shortage), and as a result – to strengthening of the competitiveness of the sector at the global level.Considering all these factors, in the long run India can become one of the leading players in the global aviation market.

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