The Indian markets were spooked by the world markets, primarily...

The Indian markets were spooked by the world markets, primarily the US, but the main low due to the introduction of the 10% LTCGT (Long Term Capital Gains Tax) which was Zero "0" till 31-01-2018, if you held for more than 12 months. The STCGT (Short Term CGT) is still only 15%.
Imagine NSL being listed on the Indian Market, we would have made a fortune already with the 20-30% movements

The Banking System, WELL that is going to take a Long Time to sort out as the bulk of the Public Sector Banks are anywhere from 51-85% owned by the Central Government and such work like the typical Public Servants, want all the benefits for staff with the least work & a total disregard for the customers. Want to be treated like Demigods if you like, unlike the private sector banks HDFC, ICICI, etc who are doing a great job, doing exceptionally well because of this lethargy of the public sector banks.
Currently there are HUGE scams being unearthed in various public sector Banks primarily the PNB (as big if not bigger than Westpac) which is the 2nd largest of them all, many more such scams will come to the fore.

The GST is going to take at least 2-3 years to smooth out the wrinkles as there are way too many issues with it. Now it is apparent, from the capability of the Online System (not able to cope) to the credits that people are due plus numerous issues to sort out & get right. Not forgetting, that the people the government was trying to trap and loop into the system has been a dismal failure. Mostly those who were already paying the Service Tax automatically switched over and a few new ones, not as many as thought or expected. As I said a few years to get that sorted, without a doubt. Just you give you a real take on it, only about 3-5% of the population pays Income Tax, imagine if & when they reach 30-50%? The GST was brought in to gain revenues via the Indirect Tax route.
This avoidance & corruption has always been an issue with all governments, sadly it still exists with many in the government promoting it, Money for Jam? The saddest part is, a handful at the very Top are Part & Parcel of this Cancer, despite what would like you & I to believe and tell the world.

Despite all the negatives, corruption and poor implementation of many government schemes, India has grown and with it many new $ value billionaires. India is and always will be India, despite the all. It will take many years of many governments to get it where it Should & Could Go, a match for China - Not in their Wildest Dreams, but yes, will develop into a Country with Great Potential and outdo a lot of the Western Countries by virtue of it's youth 75% or so being under the age of 35 by 2020. A long as the governments do their bit and can ensure some amount of real growth and most importantly EMPLOYMENT. Thus the Make In India initiative.

Now to the Steel / NSL; with 1.25 Billion people, if you could witness the construction in the housing sector it is mind boggling, to add the planned new roads and bridges, infrastructure in general, a Win Win for NSL all the way.
If NSL get the Iron Ore production part right (which I truly believe they will) I don't think we need to even worry about if & when they get going with the steel mill. The Demand is so high for a CREDIBLE supply of Ore that they have it hands down. To add (as another post said), doing business in India is an ART, not just a matter of fact.

NSL have achieved so so much, they have made amazing inroads into India/AP with their benefaction plants, been given numerous mine leases and have the blessings of the Chief Minister all thorough Hard Work, Perseverance & some amount of Good Luck. I can safely say, with CM Naidu at the helm of Andhra Pradesh is actually one of THE only states that is putting their money where their mouth is with development and progress a REALITY (unlike most other states who just talk garbage) what better opportunity can one ask for? Suits us as we are only interested in AP & NSL.

For NSL to miss this Golden Opportunity, would be like throwing the baby out with the bathwater and I don't think Cedric & Co will let that happen as they too have a chance to become Multi Millionaires if not Billionaires in a few years, despite all the above. Just look at the Vedanta Group, The Tata, The Birla, The Reliance, The Adani and many more going from strength to strength.

After all, why are we all invested in NSL? It gives us a Chance to Dream and make some good mulla as many did with many companies, namely FMG.

I am as Impatient as any other and want to wake up every morning (as I'm sure we all do) to see our investments turn the bend to fortunes or at worst start moving North, but in the heart of hearts & IMHO I give NSL 3-6 months to monitor/track their movements and achievements, live up to their promises, then 12-18 months to perform and going by that 2020 should be the year of GREAT REWARD for us all.

I do hope I have got the NSL story Right and hope Cedric & Co don't let us down............or do something silly. The rest is our Destiny.