Boom Time in India

The author discusses changes that state-owned Indian Railways (IR), now making healthy profits, has undergone in the last three years. IR has been able to take advantage of India's booming economy through increasing capital investment, which was up by 25% last year, and will be by another 32% this year, to Rs 310 billion ($7.1 billion (US)). Investment sources include IR's own resources, borrowing, and public-private partnerships. Investment schemes include opening container traffic to private sector competition. Several organizations have also been set up by IR: Rail Vikas Nigam, which sets up special purpose vehicles with third parties to attract private investment for port links and capacity enhancements; IR Catering & Tourism Corporation, which constructs, on railway land, budget hotels, operates tourist trains, and manages all railway catering; and Rail Land Development Authority, which exploits rail station land and air space. With a 63,332 km network, IR has seen a 30% increase in freight traffic in 2006-07 over 2003-04, with a 50% freight revenue increase, and has carried 1.1 billion more passengers than it did in 2003-04, a 21.5% increase. The socioeconomics of India are taken into consideration by IR in making decisions. India's economy has been accelerating over the past decade and by 2040 could rank third worldwide after the United States and China, although approximately 40% of its people remain below the poverty line. The author also discusses infrastructure, locomotive and rolling stock manufacture and procurement, high speed rail lines, and freight terminals. An insert describes IR's $20 billion (US) dedicated freight network plan. First phase construction is scheduled to begin next year.

Language

  • English

Media Info

  • Media Type: Print
  • Features: Figures; Photos;
  • Pagination: pp 47-48, 51
  • Serial:

Subject/Index Terms

Filing Info

  • Accession Number: 01051887
  • Record Type: Publication
  • Files: TRIS
  • Created Date: Jun 18 2007 4:33PM