Piyush Goyal for more private investments in railway infra

By: |
September 4, 2020 11:27 AM

The minister suggested that the government, through the DPIIT, can partner with CII along with like-minded countries – many of them in the G-20 – as well as trusted partners to promote new-age businesses.

In the last 17 months, not even a single railway passenger has died because of railway accident, he noted.In the last 17 months, not even a single railway passenger has died because of railway accident, he noted.

Pitching for more private participation in the country’s railway infrastructure, Union minister of commerce and industry, and railways Piyush Goyal on Thursday said solar projects along the railway tracks will bring in low-cost power and make the tracks secure as well as eco-friendly. Goyal was speaking at the digital launch of CII’s “Future Business Group”, an initiative to support the emergence of new-age businesses, attract global investment and foster government-industry cooperation to support innovative businesses.

Goyal’s comments come in the wake of a recent improvement in India’s rank from 52 to 48 in the Global Innovation Index and at a time when railways is looking at rapid modernisation. Innovation is also transforming IR’s coach factories which have in the last six years not only stopped making old sets but are now making better LHB coaches, Goyal pointed out. In the last 17 months, not even a single railway passenger has died because of railway accident, he noted.

The minister suggested that the government, through the DPIIT, can partner with CII along with like-minded countries – many of them in the G-20 – as well as trusted partners to promote new-age businesses. Responding to a proposal by Manoj Kohli, country head, SoftBank India, and chairman, CII FBG Group, that India can lead the FBG forum for G20 countries, Goyal called upon the industry to look at countries like Canada, South Africa, Brazil and Russia to work collectively towards the development of potential new businesses and give this initiative a global character.

“I am not stopping anyone from bringing in technology and R&D but India also has huge potent adequate capital,” Goyal said, adding that the Aatmanirbhar Bharat mission is the beginning of India’s self-realisation of its own potential to grow which will contribute to the global economy from a position of strength and be a trusted partner in building resilient global supply chains.

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