Rs 18,000 crore loss to Indian aviation industry due to West Asia conflict: PHDCCI report
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The West Asia conflict has caused a Rs 18,000 crore loss to India's aviation industry, with a 15-20% dip in inbound tourist traffic. The industry body PHDCCI has called for policy recommendations to mitigate the impact.
India's aviation industry has suffered a significant loss of Rs 18,000 crore due to the ongoing West Asia conflict. The conflict has resulted in a 15-20% decline in inbound tourist traffic, particularly in leisure travel. Airlines are facing flight cancellations, airspace restrictions, and increased fuel consumption due to rerouting of international flights. The hospitality sector remains resilient, driven by strong domestic travel demand. The industry body PHDCCI has recommended diversifying international air routes, enhancing bilateral air service agreements, and rationalizing taxation to reduce cost pressures. It has also called for targeted financial support for MSMEs and accelerating infrastructure development to sustain demand.
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