India Infrastructure: An opportunity

India – a nation in overdrive, the world’s fastest growing free market democracy, an emerging global hub of knowledge and technology, a booming economy backed by internationally competitive industrial sectors. This surging group and developments taking place across the economy has thrown up new challenges and opportunities, particularly in the domain of infrastructure. What is the driving force that underlines this constantly growing need for bigger, better infrastructure? Over the last three years, India’s economic growth has been eight percent. Currently, this is one of the fastest growth rates in the world. In terms of U.S. dollars, this translates to a growth rate as high as thirteen percent per annum. From a mere five million landlines in nineteen ninety-one, the country has reached a point where five million cellular connections are added every month. The investment opportunities in this sector are backed by a national telecom policy that aims at encouraging private and foreign investments and overseen by an independent regulator - the Telecom Regulatory Authority of India or TRAI.  In the auto industry, the turnover has grown from twelve billion dollars in 2002 – 2003 to nineteen billion dollars in 2004 – 2005. To attract the investments needed to expand airport facilities, the government has amended the AAI act to provide the legal framework for the privatisation of airports.  Moreover, it has announced one hundred percent tax exemption for airport projects for a period of ten years.