New Delhi, July 17 -- India's aviation sector holds strong untapped potential, as the country accounts for only about 4 per cent of global air traffic despite having nearly 18 per cent of the world's population, according to a recent report by Jefferies.

The report highlighted that India is already the third-largest aviation market in the world by passenger volume, behind the United States and China.

However, with only approx. 4 per cent of global traffic, the sector is still underpenetrated when compared to the size of the population. Air travel per capita in India remains very low, indicating a huge opportunity for growth.

It stated "India ranks as the third-largest aviation market by passenger volume.....but still accounts for just ...