Prabhu woos FDI in railway industry

Railway Minister Suresh Prabhu on Saturday invited other countries to make India their base for manufacturing as the Government would be investing $120 billion over the next five years to develop railway services. Prabhu said that the main thrust of any transport organisation should be on safe and secure transportation with zero <g data-gr-id="61">scope</g> for accidents and emphasised the need to launch “zero accident mission” with <g data-gr-id="62">definite</g> timeframe.

“<g data-gr-id="42">World-wide</g> focus on transportation is safety and it is for Indian Railways as well. It is most important for us to ensure safe travel with the help of latest technology,” Prabhu said at an international seminar here.

The seminar on advances in command, control and communication system for <g data-gr-id="53">main</g> line, Metro and <g data-gr-id="54">high speed</g> transit systems was attended by many representatives of foreign nations including Japan, Korea, Russia, among others. He said India has <g data-gr-id="50">technological</g> collaboration with many countries in <g data-gr-id="51">rail</g> sector.

Highlighting the scope of investment in <g data-gr-id="60">rail</g> sector, he said, “The government will be investing about $120 billion in the next five years in railways and the amount will be more in future.” 

Targeting investments from abroad, Prabhu said India has the advantage of skilled manpower, big market and large manufacturing base and in addition to internal consumption, such manufacturing hubs have export potential.

“There is a positive environment for make in India. We would like to have <g data-gr-id="55">partnership</g> with other countries to make India a manufacturing hub. Come and make your goods here and then export from here,” he said. .

He further said that the Railways is working on Make in India strategy to attract investments.

He also laid emphasis on <g data-gr-id="49">development</g> of technology like remote sensing to control accidents at unmanned level crossings by providing indications about approaching trains and any obstruction on track.

Prabhu pointed out that in such conferences “we should focus on global benchmarks and assess our standing as compared to global standards”. “We should adopt new appropriate technology to minimise human errors. Our objective should be to have zero accident mission with a definite time line,” he said.

<g data-gr-id="59">He however</g> said that this requires integrated approach involving <g data-gr-id="58">use</g> of <g data-gr-id="47">cost effective</g> advanced 

technology and properly trained manpower. He further said that new advances in command, control and communication system can play a very vital role in evolving safe and secure operation environment on Indian Railways where there should be no scope of accidents even in case of human errors.

Last week Prabhu had said that the Centre is mulling to set up solar thermal plants on land parcels owned by Railways in order to increase the usage of renewable energy. “There is a need to work towards reducing carbon emissions. We cannot continue to depend on the traditional sources of energy like coal if we have to reduce carbon emission. We will have to find innovative ways, use technology and processes that can reduce these emissions,” the minister said at an event organised by CII here.

Prabhu said since Railways is the highest consumer of electricity, they ministry is taking various steps to increase usage of solar power to meet its needs. “We have already initiated the process of using rooftop of railway buildings for generating solar power. We have also taken innovative initiatives for harnessing solar energy by putting solar panels on the roof of railway coaches,” he said.

“We are also planning to develop <g data-gr-id="56">solar</g> thermal way of generating power. The Centre has plenty of Railways land across the country where such solar thermal projects can be set up,” he added.