A monumental challenge

Infrastructure is finally taking its place in the sun. And for good reason: the task ahead is urgent

Simply to maintain the smooth running of today’s economy, India’s infrastructure requires a significant overhaul. To keep pace with rapid growth, not to mention laying the foundations for the next stage of expansion, will involve truly dazzling sums of money.

In this regard, Reliance Power’s US$3 billion IPO on 15 January is perhaps a foretaste of things to come. It was certainly spectacular timing, coming but two days prior to a market-closing 10% fall in the Sensex.

This month’s Cover Story (Building the future) investigates the renewed confidence of investors in India’s infrastructure sector and examines the roles that local and international law firms are playing in bringing groundbreaking – and once unthinkable – deals to fruition. The shadow of Dabhol persists, but is fading: Indian and foreign lawyers – including some of those who were involved in the infamous Maharashtra power plant – tell India Business Law Journal that its lessons have been heeded.