New Delhi: India has emerged as the second fastest growing air cargo market after the Middle East and is expected to grow at a compound annual rate of about seven per cent over the next five years, an IATA forecast said today.
India would also be among the ten largest international freight markets by 2018 led by the United States supplying 10,054,000 tonnes and China with 5,639,000 tonnes, the International Air Transport Association's (IATA) Industry Forecast 2014-2018 shows.
It estimated that "the second fastest-growing market, India, will experience a compound annual growth rate ( CAGR) of 6.8 per cent to add 622,000 extra tonnes."
Apart from the US and China, the remaining eight largest international freight markets would be the UAE (4,974,000 tonnes), Germany (4,763,000), Hong Kong (4,648,000), Republic of Korea (3,487,000), Japan (3,480,000), the United Kingdom (2,808,000), Chinese Taipei (2,350,000) and India (2,223,000).
22/10/14 PTI/Economic Times
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India would also be among the ten largest international freight markets by 2018 led by the United States supplying 10,054,000 tonnes and China with 5,639,000 tonnes, the International Air Transport Association's (IATA) Industry Forecast 2014-2018 shows.
It estimated that "the second fastest-growing market, India, will experience a compound annual growth rate ( CAGR) of 6.8 per cent to add 622,000 extra tonnes."
Apart from the US and China, the remaining eight largest international freight markets would be the UAE (4,974,000 tonnes), Germany (4,763,000), Hong Kong (4,648,000), Republic of Korea (3,487,000), Japan (3,480,000), the United Kingdom (2,808,000), Chinese Taipei (2,350,000) and India (2,223,000).
22/10/14 PTI/Economic Times
