This time it is for real. That is the conclusion of Scott Bayman, one of the most experienced India hands in the country today.

During the 13 years in which Mr Bayman, a former management consultant and Massachusetts Institute of Technology graduate, has run GE’s Indian operations, a tenure that more or less coincides with the reform era in India that began in 1991, periods of untrammelled optimism have all too often been succeeded by disillusionment and disappointment at the country’s unfulfilled potential.