India is the world’s third largest domestic aviation market and third largest aviation market. By 2024, India’s overall aviation market is expected to become the third largest globally. India’s domestic and international aircraft movements reached 1.24 million and 0.25 million in FY20 (April-October 2019), respectively. Domestic passenger traffic stood at 275.22 million and expanded at a Compound Annual Growth Rate (CAGR) of 13.65 per cent over FY06–19. International passenger traffic posted a CAGR of 9.11 per cent over FY06-19. Freight Traffic grew at a CAGR of 7.44 per cent over FY06-19. Freight Traffic is expected to grow at a CAGR of 7.27 per cent to reach 4.14 million tonnes in FY23. According to data released by the Department of Industrial Policy and Promotion (DIPP), FDI inflows in India’s air transport sector (including air freight) reached US$ 1,904.37 million between April 2000 and June 2019. The Government of India has launched regional connectivity scheme named UDAN (Ude Desh ka Aam Nagrik) to make flying affordable for common man. The government has 100 per cent FDI under automatic route in scheduled air transport service, regional air transport service and domestic scheduled passenger airline. However, FDI over 49 per cent would require government approval.