Surely and steadily, the winds of change are sweeping across the globe?

Maybe, more than the re-election of Barak Obama, it is the change in the Chinese leadership and its economic target of doubling GDP per capita growth for both rural and urban centres, that is expected to have greater implications on the global economy.

Back home, the government is also waking from its slumber.Across the spectrum, the growth in 2012 has been flat.Markets contracted considerably, bottom lines have been impacted, more due to higher interest costs.Acute liquidity crunch in the market has been a major problem this year. But positive sentiments are back.It is heartening to note that RBI has given infrastructure status to projects involving infrastructure which includes roads, ports, railway tunnels and bridges, oil and gas water supply pipeline, etc. This would allow companies to avail of loans for a longer period at a lower rate of interest.  

In the road sector, the NHAI awarded about 4,375 km of roads in the first nine months of 2012, as against 4,553 km during 2011, 3,338 km during 2010 and 643 km in 2009. The third quarter of 2012 itself saw about 1,898 km of projects being awarded. Projects worth Rs 3 lakh crore ($70 billion) is expected to give a boost the construction industry. Notably, the new road projects are part of the Rs 3 lakh crore ($70 billion) National Highways Development Programme (NHDP) aimed at developing 50,000 km of national highways in seven phases by 2015.

This year up to date, 18 billion of investments have entered into the Indian stock markets and have held the index high despite severe financial strain on corporate performances.The Indian GDP is still attractive and the recent approval of the IKEA investment has been a good signal that India's 'policy paralysis' is over. Even though the entire CE market is depressed, India remains one of the world?s leading developing markets and there is a huge variety of large-scale projects that could infuse fresh lease of life into the market.As India confirms its place as one of the world?s leading developing economies, the industry is confident that the next three years will see even more projects get under way and present great opportunities for the CE players in the market. Surely, the winds of change are signalling the end of 'status quo'. Here come 2013 with new hopes and new opportunities. Happy New Year!