Recently I attended a conference of construction equipment manufacturers. Before going there, I thought the industry must be excited that the whole world has gone on fire in terms of investment in infrastructure. The conference started with the theme “ Now is the time”. I got excited. The dazzling presentation had all kind of stats about China and India. And then as the day progressed, there was no discussion about emerging markets. In fact, one of the discussion was focused on “getting the bill passed in Washington which will stimulate the local spending” !!!

Every major publication is talking about BRIC including an article in Newsweek “BRICs are Still on Top”. Market potential for US made products has increased in multiples. It is going to be at least a 20 years play in infrastructure business. However, small and mid size US companies are not prepared to go after these markets. It is frustrating to see a sector of local producers of goods with large global potential stuck in the domestic market because of their mindset. It is sad to see that companies are looking at the Government for the next spending when the world market is open for them. Yes, it is difficult to explore the world market. It requires understanding and customization of products. That is where American innovation can play a role. We need to make products for the world market. We need to stimulate our research and development capabilities and prevail in the global markets.