India's civil aviation industry will attract investments worth $150 billion in the next 10 years, Civil Aviation Minister Praful Patel said in Kolkata.
"Developing the infrastructure, upgrading manpower, establishing communication systems and navigation facilities in the airport are the key areas where India's aviation sector needs investment. A new civil aviation policy is also underway, focusing on the developmental aspects," Patel told reporters in Kolkata on Friday evening.
He said the Group of Ministers (GoM), constituted to review the new civil aviation policy, is also looking at issues of infrastructure development and aircraft fleet requirement in the next five years.
"India will be the fourth country in the world which will have a satellite-based navigation system in the aviation sector," the minister said.
Indian Airlines and Air India jointly require 200 aircraft by 2011. Air India has already ordered 111 aircraft, of which 11 have already been ordered so far, he said.
Talking about the modernisation of the Netaji Subhas Chandra Bose International airport in Kolkata, Patel said Rs 20 billion would be invested in the first phase for upgrading the airport. The Airport Authority of India (AAI) would be asked to carry out the work.