the forecast
Bombardier Business Aircraft
|
Market Forecast 2011-2030
32
India
Business Jet Penetration Forecast - India
Fleet per capita vs. GDP per capita, 1960-2030
Sources: Ascend, IMF, IHS Global Insight, UN Population Project, Bombardier forecast. Includes very light jets.
GDP per Capita (USD, Log Scale)
Fleet per 100 Million Population (Log Scale)
1
10
100
1,000
100
1,000
10,000
100,000
1960
2010
2030
Actual
Forecast
India’s economy continued to experience
remarkable development, increasing at 8.5%
per year during 2010, second only to China.
Economic liberalization that began in the early
1990s served to accelerate India’s growth,
which averaged more than 7% per year
since 1997.
India has one of the fastest growing middle-
class in the world. The world’s most populous
democracy escaped the worst of the global
financial crisis of 2008-2009 through cautious
banking policies and a relatively low depend-
ence on exports. While the Indian economy
is diverse, services, such as IT, are the major
source of economic growth, accounting
for more than half of India’s output. India
has capitalized on its large number of
well-educated people, skilled in the English
language.
According to IHS Global Insight, India is
forecast to be the world’s fastest growing
region in the period from 2011 to 2030, with
GDP growth averaging 7.5% per year. In
2011, India’s growth is predicted to be at 8.3%.
