Dubai, May 1 (ANI): Union Civil Aviation Minister Ajit Singh on Wednesday said recent initiatives and measures taken by the government, would give a boost to civil aviation in India.
Addressing a global convention on business excellence in Dubai, Singh said the government is expected to invest over 12.1 billion dollars in improving airport infrastructure under the 12th Five-Year Plan.
Out of this 12.1 billion dollars, 9.3 billion dollars is expected to come from the private sector.
He referred to recent studies by the IATA, which has predicted that India is poised to become the largest aviation market by 2020.
Singh said the government's decision to allow 49 percent foreign direct investment (FDI) is a step in the right direction.
The results are already showing in the form of Air-Asia's entry into the Indian market and the Jet-Etihad deal.
Singh also defended the move to allow UAE city-state Abu Dhabi's airlines increased access to the Indian market, saying the move was made keeping passenger convenience in mind, as more foreign carriers would increase options for fliers and bring down airfares on overseas routes.
He described the Rs.2,058 crore business proposal between Jet and Etihad airlines as a win-win deal. Under the deal,Jet Airways will sell a 24 per cent stake to Etihad Airways.
Singh in the recent past has said that competition is very good for any industry.(ANI)
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