The author's comment that the enabling environment is essential for a successful implementation of infrastructure up gradation is appropriate and is the accepted norm. However to imply that nothing has been done in the ground will belittle the achievements we are seeing in terms of competitive offers coming in by way of "Negative Grants" in highway projects and investors appetite for large Public Private partnerships in Airports and Mega Power Projects.
Even to achieve the targeted completion of the projects already commenced, increased mechanisation is needed. This would call for mobilising large, sophisticated construction equipment machinery. In some capital equipment segments our existing capacities are fully booked and we need to look at imports. Developers, as in the case of Power Projects, make commitments to offer competitive prices based on imported equipments with better efficiency and earlier deliveries.
Government has therefore done the next correct thing to announce the roll out of support for these initiatives, by committing to use the forex.
As regards, the reserves, from the way in which we are growing in many sectors, it is just a question of time before we have many more Dollar streams starting from the additional Refining capacities being added to manufacturing capabilities in the auto ancillaries sector to Telecom components equipment.
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