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In the last decade or thereabout, a phenomenal growth of Infrastructure Companies of India has been witnessed. This has been a result of the recent growth experienced by the Industrial Sector.
Previously, a large share of infrastructural investment in India came from the Public Sector Enterprises under the patronage of the Central and State Governments. However, the Economic Reforms have opened new avenues for infrastructural investment in India from not only the Government Sector but also the Private Sector. The arrival of Foreign Direct Investment (FDI) at later stages also furthered the flow of funds, thus creating a boom for Infrastructure Companies India.
Performance of Infrastructure Companies of India
In November, 2003, six Infrastructure Companies of India have recorded an overall growth rate of more than 5% which has boosted the aggregate growth rate by over 4 % between April and November (2003-04). The Sector-wise performance of Infrastructure Companies of India have been as follows:
Growth rates in the Manufacturing Sector sore up to 8% and even more for the first time in the last four decades.
Petroleum Refinery and Coal recorded 20% and 6% growth rates respectively.
Growth Rate of Power Generation improved to close to over 4%.
Electricity also received a boost in growth rate from Power Generation.
Mining was another sector which did considerably well.
Equipment constructing industries are growing phenomenally at 30%.
As a result of sustained infrastructural growth, the Infrastructure Companies of India are facing a tremendous workload. Contracts are multiplying at the rate of 50 % every year.
Going by the present rate of industrial growth witnessed by the economy, the number and area of operations of Infrastructure Companies in India are bound to expand further in the years to come.
In the India Infrastructure Report regarding the telecom, in 2004–5, the biggest improvement in telephony was in voice services. The steep cut in mobile STD rates and the availability of cheap mobile handsets can be expected to lead to further growth in coming months and this has made the government set a target of 200 million users by 2007. The telephone subscriber base grew by 35–40 per cent per annum in the period from 2003 to 2005 making the telecom sector of India the fifth largest in the world. From the India Infrastructure Report it is known that the subscriber base of private telecom operators is now more than that of public sector companies, like Bharat Sanchar Nigam Ltd and Mahanagar Telephone Nigam Ltd. Other important infrastructure sectors highlighted in the India Infrastructure Report are :
Both the private sector as well as the state owned National Thermal Power Corporation (NTPC) are investing funds into building new power plants, both, thermal and hydel, and are ready to enter the arena of nuclear power generation. Along with the enforcement of Electricity Act 2003 there was a revolutionary change in the power sector of the country.
The National Highways Authority of India (NHAI) is strengthening and widening national highways in multiple phases as part of the National Highways Development Programme. Moreover the Department of Road Transport and Highways has drafted a national road transport policy to ensure greater participation of the private sector and the rationalization of the motor vehicle tax regime across states with a view to eliminating octroi alongside implementation of VAT.
The shipping ministry’s new policy allows Indian firms in the port sector to match the lowest
offer received from foreign bidders provided their bids are within 5 per cent of that offer.
Some other important steps taken in order to provide better infrastructural facilities as shown in the India Infrastructure Report are like Delhi Metro Rail, Bandra–Worli Sea Link in Mumbai, Bangalore Mass Rapid Transit Ltd., Jawaharlal Nehru National Urban Renewal Mission, National Urban Transport Policy, and Maharashtra Water Resource Regulatory Authority.
Mathura Refinery Greenply Industries
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