Here?s an excerpt of a management tale: Two marketing executives were sent separately to Africa to study the potential for the market for shoes. The first one submitted the report stating that very few wore shoes, and therefore, the market was virtually non-existent. And the other was so ecstatic that he knew the market potential was really huge as very few wore the shoes!

Amongst the BRICS nations, India?s per capita income is the least, it is reported; and if we go by the latter?s judgment in the story, it tells you the same tale of immense potential for growth. But opportunities remain just the same as long as one doesn?t have a vision, a clear-cut strategy and a methodology; in simple terms, the common sense to be a catalyst to tap and transform the potential into real growth. That?s the reality we are going through today. Not the lack of potential, but rather the complete absence of ?practical wisdom? to capitalise on the growth potential.

The construction and mining equipment industry, expected to reach the 20 billion mark in 2020, is still struggling, not because of the absence of the potential, but rather the lack of concrete steps from the different stake-holders. There are roadblocks, but the question is how we overcome the hurdles. If prudence prevails, the way forward to resolve these issues is to intensify the dialogue process among the different parties, including the government, that the faulty policies are costing the country and its growth dear. The current economic slowdown both in India and globally has in fact affected the business; of course, most of the players hope it is short term; and the long term should be bright. But it depends on what logical steps the concerned parties take, especially the government, as now the issue of ?Presidentship? is settled and the Finance Ministry is awaiting its true calling.

Despite the bleak scenario, L&T showed remarkable ability in bagging orders worth Rs 2,592 crore among other companies. Almost all top construction companies are making headway into the Middle East for seeking orders to engage their capacity of handling larger volume of business. Project management is far more streamlined in the Gulf with permissions and clearances creating not much hurdles unlike the ?uncertain environment? created by the Environment Ministry here in India.

Power sector has picked up pace with Pulok Chatterjee, heading the committee for resolving power woes, having sorted out the fuel supply agreement with Coal India. Further issues regarding the use of a pool price for imported coal and permitting power producers to pass on the cost load to the consumers, has now set the stage for projects to gain speed. The enhancement of import duties on power equipment to 21 per cent may, however, lead to slowing down of the project pace unless the domestic manufacturers can demonstrate their ability to fulfill the domestic needs. Acceleration of power projects are likely to act as a catalyst to providing an upward curve in the equipment industry.