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Editors Desk
Come sun, come rain
Only a thirsty man can understand the importance of water.
The United Nations expects the population of Gulf's GCC countries
comprising UAE, Oman, Qatar, Kuwait, Bahrain and Saudi Arabia
to reach 40 million in 2010 and at present, GCC members consume
15 billion cubic metres of water above replenishable assets.
The study says this gap could widen to nearly 31 billion cu
m annually in 2025, saying, "Unless the rate of depletion
in ground water resources is reduced and controlled, GCC countries
could suffer from a total depletion in those resources in
the next 20 years." The GCC is now very seriously implementing
desalination projects and initiating water management programmes.
Closer home, per capita water availability in India was 3,450
cu m in 1951. By 2025, the annual per capita availability
of water may dip drastically from the current 1,800 cu m to
1,200-1,500 cu m. It's time for a pragmatic approach to rejuvenate
our scarce water resources. Currently, industries consume
only about 10 per cent of the country's water in developing
nations. But this figure may well shoot up to 59 per cent
over the next decade. In a report, the World Bank says Indian
industries consume about 15 billion cu m of water annually.
Our cover story reveals that much water has flown under the
bridge and there seems to be some commitment in conserving
our resources by launching projects in this sector. This has
very positive ramifications for our industry.
Asia should use some of the $ 3 trillion lying idle in foreign
exchange coffers for sorely needed infrastructure projects
that are crucial for the region's development, stated Rajat
M Nag, MD, Asian Development Bank (ADB). Foreign exchange
reserves have to be primarily used to protect our currency.
"But beyond a level you have to make sure that those
reserves are made best use of," he said.
(The biggest reserves of about $ 1.16 trillion are held by
China. Japan has $ 890 billion, Taiwan $ 268 billion and India
$ 205 billion. Asian foreign exchange reserves account for
62 per cent of the world's reserves.)
Asia will need about $ 3 trillion for infrastructure - highways,
power projects, drinking water projects, airports - over the
next 10 years. The Indian government has already initiated
this by setting up India Infrastructure Finance Company Limited.
However, there is immense amount of interest in the India
story and with the right amount of creativity, India would
have no problem in accessing finance. In fact, the Japanese
government and corporate sector have indicated that they will
financially support an extensive programme of railways, industrial
parks and other infrastructure projects in India.
Foreign firms now operating in India have firmed up expansion
plans of their manufacturing bases. Volvo Group, the Euro
27 billion commercial vehicle maker of Sweden, plans to expand
the construction equipment and road development machines business
in India. Other countries are scouting opportunities. Thailand's
prime minister recently came on a weeklong tour of major Indian
cities accompanied by prominent Thai investors to look into
new business opportunities.
This is India's time in the sun: come sun, come rain, opportunities
are at your doorstep. Read on…
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