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The aviation industry in India under the leadership of Civil Aviation Minister has seen hectic activity unlike most others. The Jet-Etihad deal, followed now by the clearance of the Tata-Singapore International Airlines JV was possible due to the change in FDI guidelines in airlines. October saw the launch of India's tallest Air Traffic Control Tower in Mumbai, a reason for much exultation for a city recently depleted in confidence owing to its never ending infrastructure woes. The Airports Authority of India (AAI), the state-owned operator which runs more than 120 airports across the country has now moved into a critical phase in 2013 across its key functions airport operations, airport development and air navigation services and there is obviously additional pressure building up on it since it is currently up to its neck in the modernisation of several non-metro airports. Since it alone cannot preside over the task of completing the modernisation of all the airports across India it will require huge support from the private sector. New Delhi is eyeing an investment of $12.1 billion in the airports sector during the Twelfth Five-Year Plan period, a large chunk of which close to $9.3 billion is expected to come from the private sector for construction of new airports, expansion and modernisation. It is a good augury therefore that the ministry of civil aviation is now looking to speed up the process of privatising six major airports Chennai, Kolkata, Ahmedabad, Jaipur, Lucknow and Guwahati ahead of the general elections due next year. In September, the authorities introduced the process of permitting private operators to pick up 100 per cent equity stake in operation and management of the six airports under the public-private partnership (PPP) mode whereby the successful bidder would enter into partnership with the AAI for a 30-year period lease to operate, manage and develop both airside and city side facilities at the airports. That should be good news for the players in waiting. However, the recent revelations on the coal mine allotment to Hindalco, has created a setback in the executive functioning machinery of the government. 'Lobbying' and 'influencing' cannot be construed as a clear indication of bribery especially when these decisions are taken and announced publically and involve public sector entities as well or else decision making in the government will come to a standstill on fear of indictment. There are already many cases where there are clear indications of corruption which are before various courts, and the government is fighting a battle to save its credibility which is at its lowest ever. Therefore creating one more cloud by involving a well regarded business house will only hurt investment sentiment further. The Prime Minister's visits to Russia and China have borne fruit with Kudankulam finally connected to the Southern grid and there appearing a measure of clarity with Beijing over water concerns. This issue focuses on how Larsen & Toubro, India's biggest construction and engineering company which has not just managed to stay on top of the debilitated economic situation but has strived and emerged the fastest growing construction company with a CAGR over six consecutive financial periods. That, plus a list of companies which emerged the fastest, are scheduled to be unveiled in the forthcoming annual issue releasing on November 14 at the 11th CW Annual Global Awards, part of the 2nd India Construction Festival in Delhi (Details of how to register yourself for this event are available on page no. 9). EXCON beckons the industry next with its bi-annual event at Bengaluru beginning November 20. Do visit us there at our stall. Truly indeed it is going to be a busy milieu out there with national elections next year. India Inc is going to be caught up in the frenetic pace as it gears up to meet construction and infrastructure challenges such that the country might need 10 L&Ts. It is time others woke up to the opportunity and the challenge of building scale on foundations of good governance. Happy Diwali