India showcase
Look at the slew of dismal facts. There has been an overall slowdown in Indian infrastructure activity due to lack of clearances of new as well as ongoing infrastructure projects. Even L&T chief AM Naik has indicated that the project pipeline is drying up. Many projects have not progressed even after being approved of by the central government and after achieving financial deal closure, too. Added to this, contractors are not keen to participate in new BOT projects due to non-availability of funds, delay in land acquisition, inflation, high interest rates and delay in payments, all of  which is directly impacting  the construction equipment industry. Further, some  funds are stuck in arbitration over disputes. The current fiscal year has been sluggish for the construction equipment industry. The difficult economic environment that we faced in the second half of 2012 will most likely continue through most of the current year. However, looking at some of the steps taken by the policy makers in the recent past and the few major projects in the offing, one can expect the market to revive at the end of the year or by early next year.

Based on projected GDP growth, an estimated amount of around $1,300 billion is planned for  investment  in different infrastructure sectors during the span of eight to ten  years. Sectors earmarked for infrastructure investments are railways with an amount of $165 billion, roads, $150 billion, mining, $70 billion, thermal power ,$50 billion, and hydro power, $15 billion. The airport projects will have an investment of $45 billion, seaports $25 billion and urban infrastructure $780 billion.However,  in order for such investments to take place, a deal pipeline needs to develop which is sadly lacking. Unless feasibility reports for $200 billion reach the stage of  approval during 2013, the trillion dollar investment will remain a pipe dream.

Setting up of the Cabinet Committee on Investment (CCI) is one  good step towards accelerating growth but it remains to be seen if it is able to move projects forward. It is heartening to note that the composition of the board excludes ministers known for delaying infrastructure projects.

India?s GDP growth rate was revised four times by the government itself, indicating that these are indeed, very turbulent times. The best survival mantra that seems to be emerging is to improve one`s operational efficiency and be in a position to ensure that one stays sustainable and prepared for temporary setbacks. Consolidation seems to continue with Gujarat Apollo selling a majority stake to the Swiss company Ammann Group, for $ 51 million. The interest in India is alive despite the past policy paralysis and now after the FDI-in-retail logjam has been settled, both  interest and investments are likely to come in. And then, events like bC India and bauma, both to be held  this year,  offer great platforms to showcase India.