The Indian FEC business has not yet followed the trend set by the real estate industry, which has hit a profound depression, pending possible political changes in the country.
In March the country goes to the polls and it is felt by observers that there may be a major government change.
Meanwhile, investment has slowed almost to a stop while the country waits for the outcome. Last year the Indian rupee fell from 55 to the US$ to 63, a 14 per cent inflation, which has meant a rapid slowdown in the importing of amusement machines and rides, made worse by individual states imposing their own tax hikes.
But most locations, such as the big theme park, Adlabs Imagica in Mumbai, have seen their revenues largely maintained, which has surprised observers. Projects are still making money but investment is now slow in the sector.
The industry is fast-approaching its annual IAPPI trade show (February 5-7), which is the wrong side of the elections and as a result the show is not likely to be upbeat.
