By Manik Mehta, AJOT Although India has been in the news as a huge emerging market with incredible business potential, that country’s fast growth has been hampered by lack of modern infrastructure – Indians ridiculed it as the “bullock-cart infrastructure” in an obvious reference to the inadequacies of the infrastructure and the slow mode of transportation of goods – and the red tape. After having lost years debating in what is a painfully slow and long process that is typical of decision making in India, Indian politicians are now recognizing how crucial it is to have a modern infrastructure to facilitate the transportation and distribution of goods. Indeed, the Indian government has also realized the importance of enticing the private sector to enter into a partnership with the public sector in an attempt to translate ideas into viable and well-functioning infrastructure projects. The 1.2 billion strong country’s huge infrastructure need also has a positive ring in terms of business opportunities for the private sector. Not surprising, the U.S. corporate sector is “excited” about the business potential inherent in the massive infrastructure development, which India plans to carry out. This was also evident at a gargantuan one-day conference dedicated to India’s infrastructure development, focusing on seaports, airports, roads, warehousing, electricity and water, held recently at the Indian consulate general in New York. The conference was organized by ASPIRE International, a U.S. based infrastructure media group, and the India-based magazine “Infrastructure Today”. The conference, called “Infrastructure Today India Opportunity 2011”, attracted over 100 delegates, including high-ranking officials and politicians, logistics experts, planners and industrialists. The significance of India’s infrastructure development for U.S. corporations was underscored by the presence of Republican South Dakota Senator Larry Pressler, Steve Forbes, former U.S. Presidential candidate and CEO of Forbes, Diane Farrell, executive vice president and senior director (policy advocacy) at the Washington-based U.S.-India Business Council, and many American and Indian logistics companies. Experts contended that India’s impressive economic growth rates could be sustained only if its endeavors are flanked by a modern and viable infrastructure that would facilitate distribution of goods. India’s dismal infrastructure, coupled with inadequate warehousing, refrigeration and distribution facilities, have been responsible for the destruction of a large volume of perishable foods and produce, even though India is the world’s second largest food producer. With India’s GDP projected to grow from $ 3.92 trillion in 2010 to a whopping $ 85.97 trillion on a PPP basis by 2050, as some pundits predict, the Indian government has been speaking of making $ 1 trillion investments in the infrastructure in the country’s next five-year plan commencing 2013. Half of this investment is expected to be raised from the private sector which discerns a good opportunity to play an integral role in leveraging this opportunity. Speaking on the sidelines of the conference, Diane Farrell, executive vice president of the U.S.-India Business Council told the American Journal of Transportation that it was critically important for the Indian Government to create programs that will be truly attractive to foreign investors. “The United States has, traditionally, been dependent on its own economy. Our companies have been less focused (on foreign markets) in the past. This is going to change,” she added. Farrell pointed out that according to one study India’s suffers 2% less growth because of lack of infrastructure. It was absolutely essential that India did not lose this opportunity. India will need about $ 1 trillion to develop and upgrade its infrastructure, she maintained. India’s dilapidated road network is also getting a makeover. Storage and refrigeration facilities are badly needed in a country where a large percentage of fo