New Delhi: In a show of faith in India's advancing position in global aviation, New Delhi is set to host the 81st Annual General Meeting (AGM) of the International Air Transport Association (IATA) next year, media reported.

This event marks a significant milestone, as Delhi previously served as the host city for the AGM in 1956 and 1983, reported Economic Times.

On Monday, IATA announced that Pieter Elbers will chair the organization's board of governors and will act as the host for next year's AGM.

“It is indeed an honor to assume this role at a time when India is emerging as one of the world's largest and fastest growing civil aviation markets and evolving into a formidable force in the airline industry. Adhering to IATA’s legacy of aviation as a force for good, we will continue in our focus of highlighting the benefits of aviation in building connections, augmenting trade, tourism and mobility—benefits also visible in India,” Elbers said in a statement, according to the report.

India, already the third-largest domestic aviation market by volume, is expected to climb to the third-largest overall by 2026, according to IATA.

The post-COVID period witnessed the Indian domestic market experiencing the swiftest aviation recovery compared to any other region globally.

Expressing optimism about India's aviation sector, IATA Director General Willie Walsh emphasized that the right government policies could unleash the country's potential, according to the Economic Times report.

He highlighted India's current share in the global aviation market, noting that it has risen from 0.4% in 2000 to 1.8% at present.

He underscored that India’s potential is yet to be unlocked and looking at the Chinese market which is 12 % of global aviation, it is quite impressive.

Civil Aviation Minister Jyotiraditya Scindia said that the aviation sector has experienced remarkable growth, achieving record passenger numbers, establishing world-class infrastructure, improving regional connectivity, and securing historic aircraft orders.

“ I am certain that this will provide national and international stakeholders a platform to further explore the Indian aviation market and open new avenues for collaboration and sustainability,” he wrote on X.