India invites foreign investment in aviation sector

India has invited Canadian and other global companies to participate in its booming aviation sector, which has investment opportunities worth $150 billion.

"Though India has achieved a lot of progress in this area in a short span of time, still we have a long way to go. Scope for working together is immense as $150 billion worth of investment opportunities are available," civil aviation minister Praful Patel said at a meeting of top aviation players here yesterday.

He said both the Indian aviation industry and its foreign partners could grow hand in hand to become "partners in progress" in the spectacular growth story of the country's civil aviation sector.

Highlighting several growth indicators of the sector, Patel stressed that global best practices must be adopted so that the country may be equipped to handle this kind of high growth and massive expansion.

The meeting, jointly organised by FICCI and the Civil Aviation Ministry on the sidelines of the ongoing 37th assembly of UN-affiliate International Civil Aviation Organisation, was attended by a large number of leading figures of the global aviation fraternity.

It was also addressed by Giovanni Bisignani, Director General and CEO of the International Air Transport Association, Boeing India chief and Chairman of FICCI Civil Aviation Committee Dinesh Keskar and Indian High Commissioner to Canada SM Gavai.