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• Augmenting international trade has led to the<br />
conceptualization of Dedicated Freight Corridors<br />
subjoining ports and economic zones to industrial<br />
centres and viable markets. This will allow upto<br />
55% increase in the revenue earned by Indian<br />
Railways from freight operations.<br />
• World Bank overseeing International Bank for Reconstruction<br />
and Development (IBRD) have furnished<br />
affordable loans for the conception and<br />
implementation of the project, also pursuing foreign<br />
investors to participate under various PPP<br />
schemes.<br />
• Various Metro projects across the country have sought<br />
manufacturing services for Rolling stock from international<br />
giants like Bombardier, CSR Nanjing, Hyundai<br />
Rotem etc. Overriding the concept, Indian railways,<br />
headed by Rail Minister Suresh Prabhu, invited foreign<br />
manufacturers to setup their manufacturing units in<br />
India in accordance with the Make in India program for<br />
attaining indigenous Coaches and Locomotives made<br />
with leading international technology.<br />
• Following the effort, General Electrical (GE) and<br />
Alstom, in the month of December, were awarded<br />
Letters of Acceptance (LoA) for Electric and<br />
Diesel Locomotive manufactories at Madehpura<br />
and Marhowrah in Bihar with a mandate to manufacture<br />
ecologically-friendly locomotives.<br />
• Taking up the Swiss Challenge in an attempt to remodel<br />
400 railway stations to equip them with latest amenities<br />
and technological advancements was an important<br />
element of Modi Government’s declarations<br />
for the FY2015-16.<br />
Permitting FDI in the railway sector was an essential step<br />
for furnishing the necessary advance required for the development<br />
and modernization of the capital intensive<br />
sector.<br />
The Ministry of Railways has already started to ink potential<br />
projects and proposes to award railway projects<br />
worth billions of USDs with FDI opening up significant<br />
opportunities for the foreign investors to participate in<br />
the railway sector in India.<br />
17 / Rail Analysis / Indian Focus / May 2016