SMALL JET ATTRACTION
Spreading the pie across India WORDS / Neelam Mathews Income trends hold the key to how consumption patterns unfold in India. Here, it’s all about the aspirations of a growing upper-middle class and High Net Worth Individuals – and is a reason why the market for the smaller four- to eight-seater jets and turboprops accessible to millionaires (not billionaires) is also increasing. India has 7,730 Ultra-High Net Worth individuals. 109 are billionaires with a combined wealth of $925 billion, according to the Wealth-X 2012 study. Meanwhile there are 6,150 Indians worth between $30 million and $100 million, and nearly 900 that are worth between $100 million and $200 million, with a combined net worth of at least $420 billion. A recent research report with a 10-year forecast released by Hawker Beechcraft Corporation (HBC) reveals India is showing a slow, but sustained growth in business aircraft. There are currently 261 business turbine aircraft registered in Indi...