Sectoral Overview Series: Indian Railways
India This Decade
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| Launched: Sep 17, 2023 | |
| indiathisdecade@gmail.com | Season: 1 Episode: 3 |
Indian Railways is the largest rail network in Asia and the world's second-largest under a single management. With increasing urbanization and rising income levels, the demand for rail services is growing in both urban and rural areas. In fact, India is projected to account for 40% of the total global share of rail activity by 2050. To meet this growing demand, Indian Railways is investing heavily in infrastructure and technology. From April 2000 to September 2022, FDI inflows in railway-related components stood at US$ 1.23 billion.
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Indian Railways is the largest rail network in Asia and the world's second-largest under a single management. With increasing urbanization and rising income levels, the demand for rail services is growing in both urban and rural areas. In fact, India is projected to account for 40% of the total global share of rail activity by 2050. To meet this growing demand, Indian Railways is investing heavily in infrastructure and technology. From April 2000 to September 2022, FDI inflows in railway-related components stood at US$ 1.23 billion.
Indian Railways is the largest rail network in Asia and the world's second-largest under a single management. With increasing urbanization and rising income levels, the demand for rail services is growing in both urban and rural areas. In fact, India is projected to account for 40% of the total global share of rail activity by 2050. To meet this growing demand, Indian Railways is investing heavily in infrastructure and technology. From April 2000 to September 2022, FDI inflows in railway-related components stood at US$ 1.23 billion. By 2030, rail infrastructure is expected to see an investment of Rs 50 lakh crore (US$ 715.41 billion). This investment will help improve services, increase revenues, and ensure the safety of operations. In FY 2022-23, Indian Railways registered record revenue figures of ₹2.40 trillion, which is nearly ₹49,000 Crores more than the previous year, reflecting 25% growth. The organization operates 13,523 passenger trains and 9,146 freight trains daily, with a total track length of 126,366 km and 7,335 stations.
Now that we've covered the growth and projections of Indian Railways, let's move on to our next segment, industry analysis. Indian Railways is continuously innovating and developing new technologies to enhance its services. For instance, 15,000 km of the rail network is being converted into automatic signaling, and 37,000 km will be fitted with 'KAVACH,' a domestically developed Train Collision Avoidance System. The government has also allowed 100% FDI in the railway sector, which will further boost investments and technological advancements in the industry. In January 2021, the Ministry of Railways rolled out a new iron ore policy governing the allocation of rakes and transportation of iron ore. Indian Railways has set a vision for 2024 to achieve targets of 2024 MT freight loading. The Mumbai-Ahmedabad high-speed rail project has been sanctioned at a total cost of $14.27 billion. The railway sector aims to electrify the entire network by 2023, leading to annual energy savings of $1.55 billion
