India's Infra Sector Offers Vast Biz Prospects To U.S.

A number of panelists articulated many remarkable success stories in India's infrastructure sector and showcased Indian firms' capability to create quality assets manage and execute mega projects in timelines that may be set as new benchmarks.

Some constraints notwithstanding, the overall view was that the 'India Story', particularly that in the area of infrastructure, has so many positives which reflect the huge scope for working together for achieving 'win-win' outcome. Of the challenges to overcome, funding constraints, land acquisition issues, delays related to identification & award of projects, regulatory uncertainties, and shortage of skilled manpower were pointed out as some of the major reasons causing delays in infrastructure development in India.

The infrastructure investment target of U.S.D 1 trillion in the current Plan period is achievable, provided India could change the way to approach its development, participants said. The change required is needed across all phases including planning, bidding and execution of infrastructure projects. More thorough and forward-looking project preparation and a sound land-acquisition process would be crucial in facilitating successful implementation of projects. Similarly, the experts at the event suggested some more crucial steps for enhancing investor confidence: reducing uncertainty in the regulatory environment, effective dispute resolution, strong monitoring system, a sophisticated debt market and diversified set of financial instruments.