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India to invest $120 billion in railway

Staff writer ▼ | August 31, 2015
The Indian government said it is likely to infuse $120 billion to revive its ailing state-owned railways.
India railway
Trains in India   Developing railways in the next five years
"The Indian government is planning to invest $120 billion for developing railways in the next five years. The investments in railways will be higher in the future," Indian Railways Minister Suresh Prabhu said.

The minister also appealed to foreign companies to come to India, collaborate and manufacture, saying India has the advantage of skilled manpower, big market and large manufacturing base.

He stressed that the need for launching "Zero Accident Mission" with a definite time frame.

"This requires integrated approach involving use of cost effective advanced technology and properly trained manpower. We should focus on global benchmarks. We should try to develop indigenous cost-effective systems having global standards suitable for Indian Railways."