Date: 15/05/2024

Indian air cargo market booming as volumes zoom

India’s air cargo market is proving a lucrative bet for freighter operators and other supply chain stakeholders as volumes rebound after Covid. Shipments in and out of Indian airports were up 7% year on year, to 3.4 m tonnes in the fiscal year 2023-24 that ended in March, according to new data from the Airports Authority of India (AAI). Countrywide volumes hit an all-time high in March, to some 330,000 tonnes, up from 293,000 tonnes in February. Even more significantly, international loads at Indian airports spiked 10% year on year, the e-commerce boom driving the expansion alongside export-import gains from new digital manufacturing verticals. Industry optimism has also been raised by the government embarking on a programme to expand air cargo volumes to 10 m tonnes by 2030, said a report.