THE Indian government aims to turn the country into a top five air cargo market and establish air transport shipment hubs at all major airports by 2025 under its much-awaited national air cargo policy unveiled at the two-day Global Aviation Summit in Mumbai recently.
The blueprint will encourage code sharing/inter-line agreements between foreign and domestic airlines. International cargo currently accounts for 60 per cent of total air cargo volumes, an increase of 15.6 per cent compared to the previous fiscal, while domestic cargo traffic expanded by eight per cent.
This is said to reflect the skewed modal mix, whereby roads networks accommodate 60 per cent of total cargo traffic compared to a global average of 30 per cent, reported The Economic Times of India.
India's express delivery industry is one of the fastest growing markets globally. With a two per cent share of the global market, the segment grew at a compounded annual growth rate of 17 per cent over the last five years and was estimated to be worth INR22,000 crore (US$3.1 billion) in 2016-17.
The domestic express industry is estimated to be worth INR17,000 crore, according to the policy document which added that international express contributed an estimated INR5,000 crore to the Indian Express Industry.
According to the paper, the potential in the new markets needs to be explored with long-term infrastructure creation in order to sustain cargo growth over at least the next 10-15 years.
The cargo policy also seeks to establish agreements between national carriers, freighters and integrators to improve domestic connectivity as well as encourage the signing of agreements between national and international carriers, freighters and other airline operators to provide access to key global cargo markets.
The document also aims to promote the development of a last/first mile connectivity programme at international/regional gateways.
With regards to security, the policy addresses security related to the physical cargo, people handling the cargo, data and information related to shipments within and across all chains of custody transfers.
The policy also recommends that transparency in the supply chain be boosted and shipment delays, costs and dwell times reduced through the implementation of a fully automated paperless trade environment.
WORLD SHIPPING
The blueprint will encourage code sharing/inter-line agreements between foreign and domestic airlines. International cargo currently accounts for 60 per cent of total air cargo volumes, an increase of 15.6 per cent compared to the previous fiscal, while domestic cargo traffic expanded by eight per cent.
This is said to reflect the skewed modal mix, whereby roads networks accommodate 60 per cent of total cargo traffic compared to a global average of 30 per cent, reported The Economic Times of India.
India's express delivery industry is one of the fastest growing markets globally. With a two per cent share of the global market, the segment grew at a compounded annual growth rate of 17 per cent over the last five years and was estimated to be worth INR22,000 crore (US$3.1 billion) in 2016-17.
The domestic express industry is estimated to be worth INR17,000 crore, according to the policy document which added that international express contributed an estimated INR5,000 crore to the Indian Express Industry.
According to the paper, the potential in the new markets needs to be explored with long-term infrastructure creation in order to sustain cargo growth over at least the next 10-15 years.
The cargo policy also seeks to establish agreements between national carriers, freighters and integrators to improve domestic connectivity as well as encourage the signing of agreements between national and international carriers, freighters and other airline operators to provide access to key global cargo markets.
The document also aims to promote the development of a last/first mile connectivity programme at international/regional gateways.
With regards to security, the policy addresses security related to the physical cargo, people handling the cargo, data and information related to shipments within and across all chains of custody transfers.
The policy also recommends that transparency in the supply chain be boosted and shipment delays, costs and dwell times reduced through the implementation of a fully automated paperless trade environment.
WORLD SHIPPING
