Even before GIM 2012 began, the head of an association that represents the interests of small and medium industries told The Hindu, “This is more of a tamasha.”Asked why, he said, “The numbers (on value of investment) may be huge, but the experience of the last Global Investors Meet (GIM) makes me very sceptical,” he said. Obviously, he does not want to be identified, because his association is “partnering” the government at the GIM.
“These numbers look good, but everything now depends on implementation,” said an industrialist who has interests in the energy sector. A senior functionary of the Confederation of Indian Industry, he said the concept of a “land bank” is not of much use because land is only one factor in an investor's calculus when choosing the location for a project.
“Quicker implementation requires continuous monitoring, which was completely absent after GIM 2010,” he said. Referring to the claim by Large and Medium-Scale Industries Minister Murugesh R. Nirani and senior officials of the department that investors would be attracted by the 26,000 acres comprising the land bank, he pointed out that his own company has “quietly” acquired land, without bothering to get land at concessional rates from the government.
B.N. Kalyani, Chairman and Managing Director, Bharat Forge, said the creation of an infrastructure authority would “speed up” infrastructure projects.
He added, “The problem in India is that projects that ought to be completed in three years take 10 to 15 years.”
Keywords: Global Investors Meet