India’s economy recorded its slowest growth in a decade in the fiscal year ending in March but the CEO of L&T Infrastructure Finance, that provides loans to companies such as Jaypee Group to develop roads and other infrastructure, is hopeful of an economic turnaround in less than two years that will boost business prospects.
If you live in one of India’s big cities, you share the road with water tankers. They thunder down the streets, delivering water to houses and apartment complexes, often spilling through some invisible leak. Tucked away on side streets, locals throng them with buckets. Tankers are part of an economic ecosystem that are inseparable from a country whose cities teem with millions of people, but whose public utility companies often don’t have enough water to go around.
The Indian government is belatedly waking up to the fact it needs to build new cities and industrial hubs in order to sustain the growth that is supposed to propel the country to super economy status in the 21st century.
Amitabh Kant is a man thinking big things about India’s future.
Working from his New Delhi office, tucked away on the third floor of a government-run luxury hotel, he heads what may be the country’s most ambitious ever infrastructure project: building 24 cities from scratch along a 1483-km railway line.
For an Indian man, the entire country is one easy-access urinal. Be it mustard fields, the national highway or the Himalayan foothills — unzipping, unleashing and relieving comes naturally to them. Indian women, unfortunately, do not enjoy the same privilege. For them, infinite patience is a survival skill and a big bladder a necessity.
from Summit Notebook:
On Monday, we kick-off the 2010 India Investment Summit. We'll have exclusive interviews in Mumbai and Bangalore. In 2006 we held the first Reuters India Investment Summit. It was my first time in India. I've had the privilege to return every year. How time flies. Here we are four years later. Some of the key players may have changed but the big, over-arching theme is still the same: Infrastructure. It's the key to realizing the country's potential but bureaucracy, tough financing and hesitant overseas investment have slowed development in the sector, calling into question the future of India as a powerhouse.