Annual National Business Summit, 'Building India Inc', Successfully Concludes at DMS, IIT-D

Annual National Business Summit, 'Building India Inc', Successfully Concludes at DMS, IIT Delhi
Post-event Press-release

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The second day of BII took off with the first session focusing on the issue of "Infrastructure - Catering to Needs, Creating Opportunities". The Chair for the session, Prof. D. K. Banwet, gave an insightful introduction touching upon the necessity

of building up our country's infrastructure and highlighting on the importance of education infrastructure as an investment in the future.

The first speaker of the day was Mr. Alex P. Verghese, Executive Director in Business Development in Indian Oil Corporation, New Delhi. He presented his views and ideas on Liquefied Natural Gas (LNG), the 'Future Fuel'. His presentation 'Technology Innovation: LNG at Doorsteps' focused on new innovations in the field of LNG distribution. The current global fuel scenario has seen the rising importance of LNG. It is a highly-abundant commodity with 41% of the natural gas reserves found in the Middle East. Mr. Varghese spoke about how it is only recently that India has begun to realize the potential of LNG as the main fuel. He highlighted on the need of innovation in the distribution of LNG using cryogenic technology, the establishment of non-pipeline distribution network that relied mostly on road, rail and barge. He concluded by emphasizing on how this was a major opportunity for India in terms of bridging the gap between the resource site and the ever-expanding Indian market.

Ms. Anjana Dhar is the General Manager, Business Development and Private Investment at Power Grid Corporation of India Limited. She said that it is the Indian Government's aim to bring electricity to every household by 2012 and Power Grid is contributing in fulfilling this aim. She laid special emphasis on the Electricity Act of 2003 which opened up the power sector to private players. The State Electricity Regulatory Commission was set up to help facilitate the implementation of a liberal and license-free environment. The numerous joint ventures in the power sector would help India meet all her electricity requirements in the future.

The third speaker was Mr. Prem Subramanium, Principal Business Development, IDFC. Having observed and participated in numerous infrastructure development projects both in India and in the UK, Mr. Subramanium was able to provide a very interesting perspective on the topic at hand. He chose to lay emphasis on the ultimate users of infrastructure pointing out that instead of just developing infrastructure with an aim to dazzle, we should focus on the ultimate users of that infrastructure. With New Delhi playing host to the Commonwealth Games in 2010, he said that there was a lot of potential for the city to develop its infrastructure, especially in areas that are currently 'underdeveloped'.

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Contributed by -
Richa Gulati,
Member, Industrial Interaction Committee,
Department of Management Studies, IIT Delhi.

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