CARGOCONNECT-MARCH2024 - Flipbook - Page 6
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Scheduled to be operational by
Oct-Dec quarter of this year, Noida
International Airport will initially
serve 12 million passengers per
annum in Phase 1 and reach up to
70 million-passenger capacity by end of Phase 4
of development. Manager and operator, Yamuna
International Airport, a 100% subsidiary of
Zurich Airport International AG, will invest about
`5,700 crores in the development of the first
phase and manage the airport for a concession
period of 40 years. Once completed the airport
is slated to become the largest airport in Asia.
As per the International Monetary Fund
(IMF), India is likely to become the thirdlargest economy in 2027 in US$ at market
exchange rate. It also estimates that India’s
contribution to global growth will rise by
200 basis points in five years.
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As per the First Advance Estimates of
National Income of FY2023-24, India’s
Real GDP is projected to grow at 7.3%.
This was stated in the Macro-Economic
Framework Statement 2024-25.
Strong domestic demand for
consumption and investment,
along with Government’s
continued emphasis on capital
expenditure are seen as among
the key drivers of the GDP in H1 of FY202324. On the supply side, industry and services
sectors were the primary growth drivers in H1
of FY2023-24. India has registered the highest
growth among major advanced and emerging
market economies during this period.
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Lufthansa is pulling flight capacity
from other countries to meet
booming demand in India, which is
now the German airline’s fastestgrowing major market. Lufthansa’s
flight capacity to India is 14% higher than preCOVID levels, and it is currently looking to bring
back its Airbus A380 to India. Lufthansa Group,
which includes Swiss Air, currently operates 64
weekly flights to India, up from 56 before the
pandemic.
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The demand for Sustainable Aviation
Fuel (SAF) within the aviation
industry significantly exceeds the
current availability. Despite limited
access, airlines have also entered
into forward purchase agreements totaling
around US$45 billion, reflecting a substantial
commitment to future SAF procurement. Notably,
Emirates has become the world’s first airline to
operate an A380 demonstration flight using 100%
SAF demonstrating its potential as a drop-in
replacement that matches jet fuel’s requirements,
while being a more sustainable alternative.
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A New Integrated Terminal Building
at the Pune International Airport
is ready and shall be inaugurated
soon. The new terminal has a total
built-up area of 50,000 sq mt with
10 aerobridges and 72 check-in counters.
Meanwhile, the Gujarat government
during a recent assembly session
announced plans for three new
airports, including one near the
iconic Statue of Unity in Kevadia.
Airports are also slated for Ferkuwa and
Surova in Tilakwada, along with Siddhapur and
Vadnagar. Airports are also slated for Ferkuwa
and Surova in Tilakwada, along with Siddhapur
and Vadnagar.
The Ministry of Road Transport
and Highways (MoRTH) and its
implementing agencies have
undertaken multiple initiatives
in the last nine years to augment
capacity of national highways infrastructure
in India. India's roads network increased by
~60% from 91,287 km in 2014 to 146,145 km in
November 2023. The ministry has constructed
5,248 km of highways as of November 30, 2023,
surpassing the previous year’s 4,766 km for the
same period.
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A report projects that within the
next five years, a staggering 86% of
supply chain-based companies will
incorporate cloud computing into
their operation.
