Bengaluru: The Bangalore Chamber of Industry and Commerce (BCIC), under the aegis of its Aerospace Aviation Task Force is organizing a “Seminar on Aerospace & Aviation Industry: Skill Development – Needs, Challenges, Opportunities, Road map and Way Forward” on Friday in Bangalore.
The Seminar will predominantly focus on addressing key drivers of skill initiatives in the Aerospace and Aviation Sector bringing together experts from Foreign OEMs, Private Sector and the Government facilitators. They will deliberate upon the challenges and opportunities in the skill development sector which is gaining traction, especially in view of the fact that the Aerospace & Aviation sector in India is expected to see explosive growth in the coming years.
Considering the status of this potential job creating and economy boosting industry, the Union Budget 2017-18, earmarked a substantial increase of over 22 per cent allocation to the Civil Aviation Ministry at Rs 5,167.60 crore (US$ 775.14 million) for the next financial year.
According to Directorate General of Civil Aviation, domestic passenger traffic witnessed growth at a rate of 22 per cent, in comparison 21.24 per cent in FY16, which is the among the fastest growing sector globally. During FY17, domestic passenger traffic increased by 22 per cent in comparison with growth rate of 21.24 per cent in FY16. A sizeable chunk of FDI continues to come in for spurring growth in Aerospace industry in India.
In order to rapidly spur growth of this sector, the government has also launched the Udaan scheme focusing on II-tier cities which in itself will create opportunities for not only developing regional connectivity but also at the same time build an eco-system around the city.
Ashok Saxena, Chairman, Task Force on Aerospace and Aviation, BCIC said: “India’s aerospace and aviation industry is largely untapped with huge growth opportunities, considering that air transport is still expensive for majority of the country’s population, of which nearly 40 per cent is the upwardly mobile middle class. The industry stakeholders urgently need to engage and collaborate with policy makers to implement efficient and rational decisions that would boost India’s Aerospace and Aviation industry. He added: “With the right policies and relentless focus on quality and cost, India would be well placed to achieve its vision of becoming the third-largest Aerospace and Aviation market by 2026.
