Seriously clueless

India, private equity and more ...

Monday, October 17, 2005

Something's got to give

I am at the departure lounge of Mumbai’s domestic airport, as yet another flight is delayed for over an hour. I get the feeling that both frequency and magnitude of airline delays have increased in the last few months. The slew of budget airlines have done a great job of pushing fares down and opening up more flight options. However, our airport infrastructure is not keeping up with the increased load. Even as the Indian private sector keeps chugging along, public infrastructure is just not keeping up. New flights are being added, but runways are not. New plants are being built, but there isn’t enough power to run them. World class software companies in Bangalore face the world’s worst traffic jams. The difference in quality and service between privately owned and publicly owned companies is stark. Telecom is a good example. I am posting this using my Tata Indicom data card that gives me very reliable wireless internet access from anywhere in India. The MTNL broadband connection that I applied for 2 months back is yet to arrive. In fact, I have no idea of its status. And this is in an industry where the incumbent PSUs are no longer monopolies. Our culture of subsidizing a few million employees at the expense of a billion consumers cannot continue. As we strive to reach 8% GDP growth, something’s got to give.

11 Comments:

At 11:50 AM, Blogger Gaurav said...

Since you are one of the only Indian VC bloggers, am wondering if you can write about what is required for one to join a VC firm.

 
At 3:49 PM, Blogger Daniel Nerezov said...

Thanks for posting Gaurav.

Alistair Stobie over at russtech.blogspot.com is also working in an emerging market and I think you guys are awesome. Doing deals in places like India or Russi, at this time, really takes a lot of guts.

Something definetely will give. There is going to be an infrastructure bubble, and then an Asian-Tigers style blow out.

But thats how Indian infrastructure is going to get financed.

(please change your Blogger settings so that guests can comment. I had to set up an account to leave this message)

 
At 8:54 AM, Anonymous sv said...

Where is the incentive for the politicians to solve the infrastructure problem? Maybe the private sector should creating lobbying groups (like in the usa) and influence (through legal 'bribes') politicians to take actions to solve the infrastructure problem.

 
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