NEW DELHI (Sputnik) — China's domestic aviation market grew by 15.1% in comparison to Russia's 14.8% and India's 14.6%, the International Air Transport Association (IATA) said in its report.
The Chinese growth is an indication of the reversing economy growth.
"The solid upward trend in traffic is underpinned by ongoing robust growth in the country's services sector, as well as supply developments," report added.
The Indian aviation market grew at its slowest pace since September 2015.
"This is the first possible sign of reduced cash supply and wider economic uncertainty weighing on demand." This refers to the demonetization move initiated by the Narendra Modi government in November 2016 whereas 86% of the currency lost its legal tender status.
Russia posted the second fastest domestic growth in March.
"This recovery is set against an improving economic outlook as oil prices have firmed," the report analyzed.
Narendra Modi government has initiated several measures such as higher foreign investment, new aviation policy, cheaper air turbine fuel and attractive regional connectivity schemes to boost aviation in the country.
