India's air cargo industry is setting its sights on the stratosphere. With an ambitious target of 10 million metric tonnes, a significant leap from the 3.5 million tonnes handled in 2018, the Indian aviation overcome industry faces the challenge of overcoming various hurdles to reach these lofty heights.
With such goals set, no wonder the annual conclave of Air Cargo Forum India (ACFI) in July attracted unprecedented participation. India's air cargo industry is ready for transformative changes and with this realisation, the key focus areas at the ACFI'S event were technological advancements, policy reforms, and innovative logistics solutions. The ACFI Annual Conclave 2024 energised the air cargo community by bringing together all relevant stakeholders, including airports, GSAs, carrier partners, shippers, regulators, policymakers, and government authorities. The event aimed to collaboratively shape a vision encompassing shippers, buyers, and other stakeholders in the supply chain ecosystem. The conclave united the entire Governing Board of ACFI, past presidents of the forum, and a diverse array of stakeholders in the air cargo logistics and supply chain trade. This included senior government officials, airlines, airport operators, cargo terminal operators, freight forwarders, sales agents, other trade associations, and express industry professionals.
As the global air cargo market is expected to grow significantly between 2024 and 2031, India is seizing this opportunity to not only develop but also become one of the top five freight markets by 2025. According to a recent forecast by Research and Markets, India's air freight market is estimated at $13.08 billion in 2023 and is projected to reach $17.22 billion by 2028, growing at a CAGR of 5.65 per cent.
This story is from the August 2024 edition of Cruising Heights.
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This story is from the August 2024 edition of Cruising Heights.
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