IBEF: November 09, 2015
India has retained the top position as the fastest growing domestic air traffic market in September 2015, registering a growth of around 13.2 per cent year-on-year, according to the data released by the International Air Transport Association (IATA). On the other parameters like capacity addition and load factor, India showed the second highest growth in the world in September 2015. The passenger demand between January-September 2015 in India grew 19.3 per cent over the corresponding period last year.
According to a recently released report from Gartner, India is expected to retain its position as the world’s fastest growing information technology (IT) market in 2016 with the overall spending of around US$ 72 billion on IT services, products and hardware. The growth is expected to come from the digitization wave catching up with Indian companies and the growing number of connected devices that form the Internet of Things (IoT). In fact, India’s IT market is expected to grow annually at a rate of 4.95 per cent between 2015 and 2019 (the fastest globally) to touch US$ 85.3 billion by 2019-end.
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Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.