Govt to establish 33 new domestic cargo terminals by 2024-2025

Tags: National News

The government will set up 33 new domestic cargo terminals by 2024-2025, which will contribute significantly to the growth of India's cargo sector.

• Union Minister of Civil Aviation Jyotiraditya Scindia on 11 May attended the annual event of Air Cargo Forum India (ACFI) as the chief guest.

• He said that this can be achieved by acquisition of smaller size aircraft. 

• The theme of the annual event was “10 Million: Vision 2030; Stimulating, Scaling, Steering Air Cargo”.

• Cargo sector in India 

• During the last 2 years in the post-Covid era, the cargo sector has emerged as a promising sector not only for Indian aviation but also for global aviation.

• The Indian cargo sector has witnessed a growth rate of 9-10 per cent since 2013-14.

• During the last 2 years, the airlines have registered a growth of 520% in cargo revenue.

• At present, Indian Cargo revenue stands at INR 2,000 crore with 3.1 million metric tonnage having a CAGR of 13%.

• Currently, India has 21 international and 35 domestic cargo terminals.

• About Air Cargo Forum India (ACFI) 

• It was established on 14th September 2012.

• It 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.