India calls for more FDI from US for aviation

Visiting Indian Civil Aviation Minister Ajit Singh has on October 30 called for more foreign direct investment (FDI) from America He said that India has taken significant measures for affordable air travel. The Minister was addressing the 4th India-US Aviation Summit in Washington. Singh said the two countries share common values and are strategically moving towards closer ties. The Indian airport system, he said, is poised to handle 360 million of domestic and 85 international passengers by 2020. This will make India the third largest aviation market, he added. India has envisaged an investment of $12 billion in the airport sector in the 12th plan of which $9 billion is expected from the private sector.