INDIA - Jet fuel demand in the world’s third-largest oil consumer is expected to climb by 9% in the next financial year that begins April 1, according to projections from India’s oil ministry. Consumption is estimated at 164,000 b/d next year compared to 151,000 b/d for the current finan- cial year that ends Mar. 31. Higher air traffic is spurring demand growth, as domestic carriers offer cheap ticket prices to gain market share (JFI Nov.21’16). India had the fastest- growing domestic aviation market last year, with airlines han- dling nearly 100 million passengers in calendar 2016, up 23% year-on-year. The trend continues with January witnessing 25% growth in passenger traffic (JFI Feb.20’17). India’s civil aviation industry is on a high-growth trajectory. The South Asian nation aims to become the third-largest aviation market by 2020 and the largest by 2030 versus its current ninth place ranking.
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