100% FDI in Railways being formulated

railwayThe Department of Industrial Policy and Promotion is formulating rules for the proposal of allowing 100% FDI in Railways. The major riders will be that these investments will be allowed only in urban, suburban networks — in freight carrier networks and in high speed travel systems. Other areas would be infrastructure development like cabin building. Canadian cabin manufacturers like Bombardier, who are already providing metro cabins for the Delhi Metro, other foreign major corporations like General Electric are already interested.

The department is expecting about 10 billion USD to come in to the country this way. India’s addition of new track length has been sluggish over the last ten years. Indian Railway is at fifth place in size and operations in the world. Currently there are about 15 lakh employees in the Railways.

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