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As described in the air traffic section, trade between the two largest emerging countries is opening up. Airfreight is the major benefactor. Although the volume of airfreight between China and India is relatively small in comparison to what it could be in a totally liberalised environment supported by better airfreight services, it has more than doubled in the last five years. As much as 16,000 tonnes moved each way in 2006. In a market where bi-directional imbalances often occur, the fact that export and import via airfreight are at the same level in terms of tonnage, makes this market even more attractive for operators. However, the commodities from India are still dominated by valuable stones, finished textiles, leather products and chemicals, while exports from China to India largely consist of electronics and textile fibres. China - India airfreight traffic will be one of the faster growing freight markets worldwide. The GMF anticipates average growth of 8% per annum over the next ten years, with real upside potential. |
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