Regulatory roadblocks and fears of government interference threaten India’s resurgent infrastructure sector
For many observers, last summer’s Commonwealth Games in Delhi – with its collapsing bridges, falling ceilings and substandard accommodation – not only symbolized India’s infrastructure deficit, but also told the world about it. Others thought it was high time a light was shone on a murky part of the country’s economy.
“With various scandals in the limelight, foreign players do consider such factors before making any investment decisions,” says Ravi Bishnoi, a co-founding partner of SRGR Law Offices, a Noida-based law firm with a significant infrastructure practice. “Investors are more cautious now,” he adds.
Fortunately India moved rapidly to make amends. The central government stepped in and brought the Delhi metropolitan administration to heel. After a brief panic, emergency teams shored up the faltering infrastructure, the games were considered a success and India was able to take pride in its revitalized “can-do” attitude.
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