Sign In
Learn bits
Economy
Mahesh

11/05/22 07:14 AM IST

Air Cargo Forum India Annual Event 2022

In News 
  • Union Minister of Civil Aviation Shri Jyotiraditya M. Scindia attended the annual event of Air Cargo Forum India (ACFI) as the chief guest.
  • The theme of the annual event was “10 Million: Vision 2030; Stimulating, Scaling, Steering Air Cargo”.
Highlights of the forum 
  • Indian Cargo Sector has seen a growth rate of 9-10% since 2013-14.
  • During the last 2 years, airlines have witnessed 520% increase in cargo revenue.
  • As of today, Indian Cargo revenue stands at INR 2,000 crore with 3.1 million metric tonnage having a CAGR of 13%. Today, India has 21 international and 35 domestic cargo terminals.
  • To achieve the target of 10 million metric ton in cargo, the industry players need to focus on transportation of smaller cargo loads from Tier II & III cities to metros which can be achieved by acquisition of smaller size aircrafts.
  • To facilitate this, we are also establishing 33 new domestic cargo terminals by 2024-2025 which will allow our cargo sector to flourish and grow. 
  • Ministry of Civil Aviation will be spending close to INR 98,000 crores over 4 years in terms of setting up new greenfield airports and expansion of existing brownfield airports.
About Forum 
  • Air Cargo Forum India (ACFI) is an association of various stakeholders of Air Cargo Logistic Supply Chain Trade and Industry i.e. Freight Forwarders, Airlines, Airport Operators, Cargo Terminal Operators, Customs House Agents and Express Industry established on 14th September 2012.
Source-PIB 

More Related Current Affairs View All

08 Jan

Airline pilots’ body calls attention to lithium battery fire risk

'Recently, the International Federation of Air Line Pilots’ Associations (IFALPA) issued three position papers on the fire risk due to the use of lithium-ion batteries in air

Read More

08 Jan

V. Narayanan, who is set to take over as ISRO Chairman

'V. Narayanan, a noted rocket and spacecraft propulsion expert, is set to succeed S. Somanath as the next Chairman of Indian Space Research Organisation (ISRO).' Dr. Narayanan

Read More

08 Jan

Rat-hole mining

'Several workers have been trapped for more than 12 hours in a coal “rat-hole” mine after it was flooded with water  in Dima Hasao district of Assam.' The rescu

Read More

India’s First Ai-Driven Magazine Generator

Generate Your Custom Current Affairs Magazine using our AI in just 3 steps