Kolkata: The projected new civil aviation plan, being inspected by a ministers group, is looking to magnetize $150 billion of investment in the aviation segment.

Praful Patel, aviation minister said, “We hope to attract around $150 billion — both in terms of hardware and software. In terms of infrastructure, our target is to have at least 500 airports both big and small, with a total fleet of around 1,000 commercial aircraft in the next five years and around 1,500 aircraft by 2020.”

The fresh plan will also energetically support the establishment of merchant airports, Mr. Patel said.

“These will essentially be private airports and we would like to see more such airports coming up. However, air traffic control will remain under the government,” he added.

Recently, Tata Steel has declared plans to establish such a commercial airport in Jamshedpur, he added. Dubbed Vision 2020, the civil aviation plan has delineated in detail the business and navigational requisites too.

"By next year, India will be only the fourth country to have a satellite-based navigation system to manage its airspace. In terms of manpower upgradation too, the policy aims to spell out new skills and institutes needed to support aviation growth," Mr Patel stated.

Most importantly, the ambit of the regulatory framework in the aviation segment, now under Airport Economy Regulatory Authority, is also slated to be flourished to take in vital issues like consumer complaints and a host of other matters, Mr Patel added.

On the question of relaxation in the 5-years in process and 20 aircraft fleet strength standard for domestic aircraft carriers to be capable of flying out of the country, Mr. Patel told the department considers that Indian carriers should manage a 50% share of all arriving and departing air traffic to and from the country.

Presently, Indian carriers have a 30% share of air traffic that stands further diluted if long haul routes are taken into consideration.