India is ready for take-off
Investors can consider its notable infrastructure buildout, financial sector growth, vast population and clean energy efforts
MANY will have heard the prediction that India will soon become – or already is – the world’s most populous nation, eclipsing China. But population growth is not the only thing taking off in India.
For instance, a growing middle class means more robust travel demand, and the South Asian nation’s airline business and aviation market is now one of the world’s fastest-growing. Analysts expect related government spending to reach nearly US$12 billion by 2025, with plans to modernise existing facilities as well as build 80 new airports over the coming five years.
This June, Tata-owned Air India – the country’s largest international carrier – confirmed a landmark commercial jet order of 470 Boeing and Airbus passenger airplanes.
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