New Delhi, Jul 3: Prime Minister Manmohan Singh told that the regulatory and policy framework needs to be aligned to civil aviation industry.
Inaugurating the new terminal 3 in Indira Gandhi International Airport in New Delhi, stated to be the fifth largest and among the most modern in the world, built in record 37 months at a cost of nearly $3 billion, PM pointed out the need of encouragement in investment in the aviation sector that can absorb upto $120 billion by 2020.
"India is the ninth largest aviation market in the world. Ten scheduled airlines are operating here compared to two in the 90s. During the same period the number of aircraft deployed by the airlines has increased by four times from 100 to 400," PM said.
"India's physical infrastructure is one area where we have been lagging behind but I am confident that in the time to come we will achieve much more than in the past," he added.
Prime Minister said the new terminal establishes new global bench marks and exemplifies country"s resolve to bridge the infrastructure deficit and it also proved the success of the Public Private Partnership model in execution of large infrastructure projects.