Why India became a busman’s holiday

What do you do if you want to take a break from infrastructure investment? You certainly don’t go to India, as I discovered after a recent holiday in the country. From Delhi airport’s giant GMR banners, to the comprehensive billboards in Delhi metro stations detailing the tranches used to finance the city’s underground rail network, infrastructure is all-pervasive in India.
Just how ubiquitous are these visuals, you ask? Well, consider this: India-focused Infrastructure Development Finance Company is advertising its latest offering of tax-free infrastructure bonds on the bus stops of Delhi and other big Indian cities, like Jaipur, the capital of the northern state of Rajasthan.
“If the last decade was the decade of IT in India, the new decade will be the decade of infrastructure,” Kamal Nath, India’s former transport minister, said early in his mandate. Judging by the available evidence, India’s infrastructure decade is off to a good start – and it’s not shy of advertising the fact.