Not much has changed for India Inc. since the UPA took the power seat in 2004. Genuine business interests continued to suffer, analyses VIRAT BAHRI
It would be wrong to say that the UPA regime was not one of great transformation. And their claim to fame (or the opposite!) in this regard is not just the landmark Indo-US nuclear deal. One entire industry revved up its engines, took off with elan, and all but crash landed in the course of their term. Yes, we are talking about the aviation industry, an industry that decisively led the rest of them in gasping for breath, for the players were bleeding red much before Lehman Brothers actually sounded the alarm bells that shook the world.
Surely, the first question that comes to mind is: What did the government have to do with that? Indeed, as Binit Somaiya, Regional Director, CAPA rightly points out, “A large part of the responsibility for the revival of the aviation industry rests with the industry players themselves and not with the government.” But then, there were critical support systems needed for the industry, which the government failed to provide. In particular the lack of an Airport Regulatory Authority was a major unresolved issue, which, according to Binit, can be quite unnerving for investors; whose role was critical for the industry’s growth. Allegations of corruption in the bidding process for airports made matters only worse. Moreover the horse-before-the-cart philosophy prevailed here as well, as airport infrastructure lagged miserably behind schedule, as players went ballistic on expanding their fleet and routes.
It would be wrong to say that the UPA regime was not one of great transformation. And their claim to fame (or the opposite!) in this regard is not just the landmark Indo-US nuclear deal. One entire industry revved up its engines, took off with elan, and all but crash landed in the course of their term. Yes, we are talking about the aviation industry, an industry that decisively led the rest of them in gasping for breath, for the players were bleeding red much before Lehman Brothers actually sounded the alarm bells that shook the world.
Surely, the first question that comes to mind is: What did the government have to do with that? Indeed, as Binit Somaiya, Regional Director, CAPA rightly points out, “A large part of the responsibility for the revival of the aviation industry rests with the industry players themselves and not with the government.” But then, there were critical support systems needed for the industry, which the government failed to provide. In particular the lack of an Airport Regulatory Authority was a major unresolved issue, which, according to Binit, can be quite unnerving for investors; whose role was critical for the industry’s growth. Allegations of corruption in the bidding process for airports made matters only worse. Moreover the horse-before-the-cart philosophy prevailed here as well, as airport infrastructure lagged miserably behind schedule, as players went ballistic on expanding their fleet and routes.
Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri
and Arindam Chaudhuri (Renowned Management Guru and Economist).
and Arindam Chaudhuri (Renowned Management Guru and Economist).
For More IIPM Info, Visit below mentioned IIPM articles.
Zee Business Best B-School Survey 2012
Prof. Arindam Chaudhuri’s Session at IMA Indore
IIPM IN FINANCIAL TIMES, UK. FEATURE OF THE WEEK
IIPM strong hold on Placement : 10000 Students Placed in last 5 year
IIPM’s Management Consulting Arm-Planman Consulting
Professor Arindam Chaudhuri - A Man For The Society….
IIPM: Indian Institute of Planning and Management
IIPM makes business education truly global
Management Guru Arindam Chaudhuri
Rajita Chaudhuri-The New Age Woman
IIPM B-School Facebook Page
IIPM Global Exposure
IIPM Best B School India
IIPM B-School Detail
IIPM Links
IIPM : The B-School with a Human FaceProf. Arindam Chaudhuri’s Session at IMA Indore
IIPM IN FINANCIAL TIMES, UK. FEATURE OF THE WEEK
IIPM strong hold on Placement : 10000 Students Placed in last 5 year
IIPM’s Management Consulting Arm-Planman Consulting
Professor Arindam Chaudhuri - A Man For The Society….
IIPM: Indian Institute of Planning and Management
IIPM makes business education truly global
Management Guru Arindam Chaudhuri
Rajita Chaudhuri-The New Age Woman
IIPM B-School Facebook Page
IIPM Global Exposure
IIPM Best B School India
IIPM B-School Detail
IIPM Links
