NEW DELHI: The Red Sea disaster has seen air freight from India has greater than doubled in the previous couple of months, placing the nation on monitor to assembly its goal of 10 million tonnes (MT) by 2030-31. The nation noticed its peak air freight at over 3.5 MT in 2017-18 and submit Covid noticed quantity climb again to 3.5 MT. Air Cargo Forum of India (ACFI) president Yashpal Sharma mentioned checking out two points — slicing down time for trans-shipment carriage and permitting double dipping (going to multiple metropolis in India) by international freighter plane — will likely be key to assembly the goal in the following 5 years.
“Less than 2% of freight globally moves by air. Following the Red Sea crisis, even a half per cent shift will mean a huge jump for carriage by air. We have a huge opportunity in India and need to overcome the twin challenges as trans-shipment currently takes 2-2.5 days which needs to be sped up,” Sharma mentioned on the ACFI Annual Conclave 2024 right here on Thursday.
India is a novel market with worldwide imports, worldwide exports and home cargo having an nearly equal share in the nation’s air freight motion. Less than 15% air cargo is carried by freighter plane and the steadiness in stomach of passenger plane.
“Before Covid, India had 6 freighter aircraft. This number rose to 28 during Covid (that saw airlines use passenger planes also purely for cargo). Post Covid, the number fell to eight and is now currently at 18,” Piyush Srivastava, senior financial advisor in the aviation ministry, mentioned. “During Covid, people got used to sending cargo by air. Govt allowed conversion of passenger to freighter (P2F). Many steps have been taken to boost air freight. E-commerce and express delivery are bound to grow. But given the challenges from (carriage by) rail and road, the processes and turnaround time for air freight must be eased,” Srivastava mentioned.
Clearly there’s loads of room for enchancment. Surendra Kumar, joint secretary (logistics and commerce) DPIIT, mentioned 70 airports have cargo amenities. “They are not being optimally utilised due to reasons like inadequacy of aggregation among various modes of transport. Integrated development of the sector and reduction of logistics costs is being done. India is soon going to be the third largest economy and a major hub for global supply chain. Projects worth Rs 13.5 lakh crore under PM Gati Shakti will soon be a reality and the sector will get a major impetus,” Kumar mentioned.
After Covid, the push for air cargo has include the Red Sea disaster. Air freight from India to key export locations together with yheUS, Canada, and Europe has greater than doubled in the previous few months.In fiscal 2023, scheduled airways transported practically 698 thousand metric tonnes of home cargo in each stomach cargo of passenger flights and freighter plane. Currently, India’s airports have a mixed air cargo dealing with capability of round 6.5 million tonnes.
India is setting up new cargo terminals that includes built-in, multimodal, and devoted amenities and increasing present terminals to meet goal of 10 MT by 2030.
ACFI estimates India’s air freight market to attain $12.41 billion in 2023 and is anticipated to grow to $16.37 billion by 2027, with a compound annual development fee (CAGR) of 5.7%.
“Less than 2% of freight globally moves by air. Following the Red Sea crisis, even a half per cent shift will mean a huge jump for carriage by air. We have a huge opportunity in India and need to overcome the twin challenges as trans-shipment currently takes 2-2.5 days which needs to be sped up,” Sharma mentioned on the ACFI Annual Conclave 2024 right here on Thursday.
India is a novel market with worldwide imports, worldwide exports and home cargo having an nearly equal share in the nation’s air freight motion. Less than 15% air cargo is carried by freighter plane and the steadiness in stomach of passenger plane.
“Before Covid, India had 6 freighter aircraft. This number rose to 28 during Covid (that saw airlines use passenger planes also purely for cargo). Post Covid, the number fell to eight and is now currently at 18,” Piyush Srivastava, senior financial advisor in the aviation ministry, mentioned. “During Covid, people got used to sending cargo by air. Govt allowed conversion of passenger to freighter (P2F). Many steps have been taken to boost air freight. E-commerce and express delivery are bound to grow. But given the challenges from (carriage by) rail and road, the processes and turnaround time for air freight must be eased,” Srivastava mentioned.
Clearly there’s loads of room for enchancment. Surendra Kumar, joint secretary (logistics and commerce) DPIIT, mentioned 70 airports have cargo amenities. “They are not being optimally utilised due to reasons like inadequacy of aggregation among various modes of transport. Integrated development of the sector and reduction of logistics costs is being done. India is soon going to be the third largest economy and a major hub for global supply chain. Projects worth Rs 13.5 lakh crore under PM Gati Shakti will soon be a reality and the sector will get a major impetus,” Kumar mentioned.
After Covid, the push for air cargo has include the Red Sea disaster. Air freight from India to key export locations together with yheUS, Canada, and Europe has greater than doubled in the previous few months.In fiscal 2023, scheduled airways transported practically 698 thousand metric tonnes of home cargo in each stomach cargo of passenger flights and freighter plane. Currently, India’s airports have a mixed air cargo dealing with capability of round 6.5 million tonnes.
India is setting up new cargo terminals that includes built-in, multimodal, and devoted amenities and increasing present terminals to meet goal of 10 MT by 2030.
ACFI estimates India’s air freight market to attain $12.41 billion in 2023 and is anticipated to grow to $16.37 billion by 2027, with a compound annual development fee (CAGR) of 5.7%.
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