Leading low-cost carriers of the world are converging in New Delhi in July for a brainstorming on the future of budget airlines in the region.

The two-day conclave, starting July 5, will be inaugurated by Union civil aviation minister Praful Patel and will be attended by top functionaries of leading global low-cost carriers such as Air Asia, Virgin Blue, Tiger Airways among others.

Organised by the Centre for Asia Pacific Aviation (CAPA), the conclave will also see senior executives from Changi and Frankfurt airports.

"Low-cost carriers is the best transport option for a country such as India. We expect at least four to five low-cost carriers operating form India in the near future," said Kapil Kaul, vice-president, Capa.

Besides, representatives from global investors such as Goldman Sachs and NM Rothschild will also be attending the event. "The event will focus on needs of a low-cost carrier in India. It will cover issues such as financing, technical and management expertise to run a low-cost airline," Kaul said.

It is expected that some full-service airlines operating in the country would look at the option of starting low-cost airline services in the near future.

Capa expects that they might follow the path of Air India, which has decided to set up a separate firm.