‘Pharma, electronics, high-value goods, heavily rely on air freight’

At the ongoing India International Cargo Show (IICS) in Mumbai, Sanjiv Edward, President, Air Cargo Forum India (ACFI) says, “Air freight services have long been the cornerstone of global trade, offering fast and reliable transportation across continents. As global chains become more complex and e-commerce continues to expand, the need for expedited shipping and air freight also has become relevant. Key industries such as pharmaceuticals, electronics, high-value goods, heavily rely on air freight, especially for time-sensitive shipments. Today, the logistics market is about 9.8 trillion globally and including 3PL, 4PL, warehousing, freight, everything combined. But currently due to the way the world is going, and the progression of the market is positive, we are looking at about 16, close to 18 trillion by 2032. This presents opportunity for all. Air freight is the backbone of high-value and time-sensitive shipments. Today, it’s about a 300-million-dollar market growing at a CAGR of about 6.2% and it will be closer to about 500 million, 85 million precisely by 2031. And our ambition is to be part of that growth which this industry is going through. Looking at the Indian context, the Indian aviation industry is one of the fastest growing in the world, we know that. We have the government in fact committed to about 920 billion in airport infrastructure. We will be building about 400 plus airports by 2025 and then adding another 200 in two decades.”