YES Bank releases Knowledge Report ‘Indian Civil Aviation – At the Cusp of Taking off’
YES BANK, India’s 5th largest private sector bank, was conferred with the ‘Best Bank Promoting Tourism’ award at the 8thInternational Conference cum Awards – Indian Civil Aviation & Tourism by Shri P. Ashok Gajapathi Raju, Hon’ble Union Minister of Civil Aviation, and Dr. Mahesh Sharma, Hon’ble Minister of State (I/C), Tourism & Culture and Civil Aviation. YES BANK also released a Knowledge Report ‘Indian Civil Aviation – At the Cusp of Taking off’, which highlighted focusing on the issues, challenges and opportunities surrounding the Civil Aviation sector.
Mr. Rana Kapoor, MD & CEO, YES BANK, said, “It is indeed a great honour and privilege to be recognized for our contribution to promoting tourism. The award is a true recognition of YES BANK’s decade-long relentless focus on providing innovative solutions to key sunrise sectors of the economy, like Tourism & Hospitality, which go beyond the traditional realm of banking and help unlock the enormous potential of the sector. The Award will surely strengthen YES BANK’s endeavor in championing significant policy changes at various forums, aimed at the holistic development of the sector and unleash the sectors’ untapped potential.”
Highlighting the importance of a robust aviation industry and a pragmatic civil aviation policy, Mr. Kapoor said, “A world-class civil aviation sector will facilitate seamless flow of investment, trade and tourism, with significant multiplier effects throughout the economy. Buoyed by the resurgent optimism in the economy, I firmly believe that a new Civil Aviation Policy focused on realizing the vision of ‘Make in India’ will enhance regional air connectivity, transform key airports at existing metros into international hubs, create more airports through PPP mode, establish a strong domestic MRO sector and improve passenger facilitation. This will provide fresh impetus to the sector which is expected to become the 3rd largest aviation market by 2020, thereby contributing towards India’s socio-economic transformation.”
The conference served as a pivotal platform for discussion on key issues pertaining to the Civil Aviation sector in terms of the infrastructure, cargo and freight industry, and the need for further streamlining the regulatory framework.
Speaking at the summit, Shri Ashok Gajapathi Raju Pusapati, Hon’ble Union Minister of Civil Aviation, said “Airlines have a key role to play in promoting tourism and India’s rich heritage. We have a Government that has had extensive discussions and has come up with a draft Civil Aviation Policy. We have to take all stakeholders along to address all their concerns in drafting a robust policy.”
Dr. Mahesh Sharma, Hon’ble Minister of State (I/C), Tourism & Culture and Civil Aviation said “We need to integrate culture, heritage, tourism and aviation sectors in India to achieve holistic growth. This will take us closer to achieving our target of attracting 1% market share of the world tourism market.”
The Indian Civil Aviation sector has been at the forefront of economic and regulatory transformation. A slew of policy initiatives such as Open Skies Policy, and building robust airport infrastructure amongst others have helped fuel substantial growth of the Indian Aviation Sector.
