• The Indian Railways is the largest rail network in Asia and the world’s second-largest under one management.1
  • The Indian Railways network spans more than 67,415 km, as of March 2019. 2
  • The Indian Railways currently employs 1.23 Mnas of March 2019. 2
  • The Indian Railways aims to be the driver of India’s economic growth and development by being safe, financially viable and environmentally friendly. The focus to achieve this goal is through the resolution of key concerns such as passenger experience, zero fatality, cost, sustainability. 3
  • CAPEX of INR 6,45,600 cr in 2014-20 has surpassed the cumulative investment made in 60 years from 1951 to 2014.
  • Under MAKE IN INDIA initiative, As per DPIIT orders on public procurement: More than 95% of Electric Locomotive components to be sourced indigenously.14
  • Indian Railways has a total Broad Gauge (BG) network of 64,689 Route kilometers (RKM) including 740 RKM of Konkan Railway. Out of these 45,881 RKM i.e., about 71% has already been electrified till 31.03.2021.
Reasons to Invest
  • The Ministry of Railways (MoR) has taken various initiatives such as setting up locomotive factories, network expansion, station re-development and induction of railway wagons in order to attract private investment and participation. It has planned private participation in the operation of passenger trains by introducing around 150 modern rakes. 4
  • In Gati Shakti Launch, PM mentioned that from 2014, more than 9000 km of railway lines have been developed and more than 24000 km of railway tracks have been electrified.
  • In Gati Shakti Launch, PM mentioned that Since 2014, the metro rail has been expanded from 250 km of track to 700 km and work is going on in the 1000 km new metro route
  • Under the 'Make in India' initiative, most of the track maintenance machines supplied during the last five years were manufactured in India by leading manufactures in the world. 5
  • The project ‘Utkrisht’ aims to improve the condition of 66 important identified Mail/Express trains, consisting of 140 rakes. 90 rakes have already been renovated till the year 2018-19. Phase 2 of the project will cover 500 rakes. 2
  • By December 2023, the entire rail network will be fully electrified and by 2030, the entire rail network will run on renewable energy.
  • The National High-Speed Rail Corporation Limited (NHSRCL) has launched the high-speed train corridor project between Ahmedabad and Mumbai. The project, commonly referred to as the ‘Bullet Train’ project, is being implemented with technical and financial assistance from Japan. The high-speed railway line covers a distance of 508.2 km in approximately two hours with an operating speed of around 320 kmph. It is expected to become operational by 2023. Of the total project cost, 81% is in the form of a loan from Japan International Corporation Agency (JICA). 2
  • The Dedicated Freight Corridor Corporation of India Limited (DFCCIL) is an undertaking by the Ministry of Railways to overlook planning, development and mobilisation of financial resources, construction, maintenance and operation of the Dedicated Freight Corridors. Two projects have been commissioned under the DFCCIL – the Eastern Dedicated Freight Corridor and the Western Dedicated Freight Corridor. The two corridors Eastern   Dedicated   Freight   Corridor   (EDFC)   from Ludhiana to Sonnagar and the Western Dedicated Freight Corridor (WDFC) from Jawaharlal Nehru Port Terminal (JNPT) to Dadri will be developed with a length of 1337 km and 1506 km respectively. These corridors provide India with the opportunity to create one of the world’s largest freight operations. So far, 1110 km out of total sanctioned length of 2843 km of DFC has been completed.
  • The freight carrying capacity would be 13,000 tonnes, up from the current 5,000 tonnes. The length of the goods train will also increase from 700 meters to 1500 meters. 2
  • Certain stations have been identified to be developed as per international standards with modern facilities and passenger amenities on the lines of newly developed airports, using PPP model. The approval of redevelopment of Gwalior, Nagpur, Sabarmati and Amritsar Railway Stations through Public-Private Partnership has been granted by the Private Partnership Appraisal Committee. 2
  • The ‘Green Energy Project’ is an initiative to make Indian Railways environment friendly by focussing on renewable sources of energy. Indian Railways has planned to install 1000 MW of solar power plants and about 200 MW of wind plants by 2022-23. Out of this, about 204.82 MW (101.42 MW solar and 103.4MW wind power) renewable power has already been set up. Most of the Solar power plant work will be done in Public Private Partnership Mode. The Indian Railways has signed an MoU with GAIL (India) Ltd to provide infrastructure and supply of CNG/LNG/PNG for both industrial and domestic purposes. This replacement by Natural Gas is expected to reduce costs by INR 20 cr per annum for the Indian Railways. 2
  • Special Trains have been planned to connect major destinations across the country to ensure smooth and comfortable travel to the passengers, during the festive season.
  • Indian Railways (IR) has planned for installation of solar energy projects on unused vacant Railway land. State-wise details where action has been taken for installation of Solar electricity projects on unused vacant Railway land are as follows: Chhattisgarh- 50 Mega Watt (MW) at Bhilai; Uttar Pradesh – 3 MW at Modern Coach Factory, Raebareli;  Haryana- 2 MW at Diwana (near Panipat); Madhya Pradesh- 1.7 MW at Bina; Maharashtra- 15 MW Buttibori (Nagpur).
  • The objective of the NRP Plan is to create capacity ahead of demand, which in turn would also cater to future growth in demand right up to 2050 and also increase the modal share of Railways to 45% in freight traffic and to continue to sustain it. 
  • The Ministry of Railways (MoR) has decided to undertake survey and prepare the Detailed Project Report (DPR) for seven High Speed Rail Corridors as under:-
    1. Delhi - Varanasi.
      Delhi - Amritsar.
      Delhi - Ahmedabad.
      Mumbai - Nagpur.
      Mumbai - Hyderabad.
      Chennai - Bangalore - Mysore.
      Varanasi – Howrah.

Explore more about infrastructure availability in Railways sector >

Key Achievements
  • The Indian railways have set up the country’s first Waste to Energy plant in Bhubaneswar. Based on its patented technology called POLYCRACK, the plant has a capacity of 500 Kgs waste per day. The technology is the world’s first patented heterogeneous catalytic process. The waste is processed and reformed within 24 hours without emitting any hazardous pollutants into the atmosphere. 10
  • Indian Railways has created a new world benchmark by successfully running 1st Double Stack Container Train in high rise Over Head Equipment (OHE) electrified sections, having a contact wire height of 7.57 metres. This achievement will also boost the Green India mission. 11
  • Indian Railways has operationalised its First 12000 HP locomotive. For the first time in the world, a high horsepower locomotive has been operationalised on a broad gauge track. The locomotive has been produced under the Make in India initiative, and India has become the 6th country to join the elite club of producing high horsepower locomotive indigenously. 12
  • The semi-high speed (160 kmph) self-propelled “Train 18” has been manufactured in India, boosting the Government's Make in India’ initiative. 2
  • Chennai – Mysore- Chennai Shatabdi Express becomes the first Integrated Management Systems (IMS) certified train of Southern Railway, first Shatabdi of Indian Railways and second mail/express train on Indian Railways.
  • Brahmaputra Mail becomes the first passenger carrying train on Electric Traction up to Kamakhya station of Guwahati in N.F. Railway.
  • PSC Box Girder of 40 m span to expedite the construction of viaduct for Mumbai- Ahmedabad High Speed Rail corridor (MAHSR) weighs around 970 MT and will be the heaviest PSC Box Girder in the construction industry of India.
  • Northeast Frontier Railway (NFR) has successfully completed Electrification work of total 649 RKM / 1294 TKM from Katihar to Guwahati.
  • NFDC and Ministry of Railways have integrated to create a Single Window Filming Mechanism to make the permission for filming across Railways premises streamlined and efficient.
  • Average Freight Train speed is 44.36 kmph during 2021-22 compared to 42.97kmph during 2020-21 (+3.23 %) (upto 31.12.2021).
  • There is a four fold increase in Railways Capex from INR 54,000 Crore in 2013-14 to INR 2.15 Lakh Crore in 2021-22.
  • PM Dedicates various Railways projects in the state of Madhya Pradesh. The country's first ISO certified, first PPP model based railway station, i.e Rani Kamalapati Railway Station has been dedicated to the nation.
  • 1806 Kisan Rails run on 153 routes (upto 24th December 2021) and carried around 5.9 lakh tones of agricultural products.
  • Wi-Fi services have been provided at 6071 Railway Stations across India so far. These are available to the general public free of cost for the first half an hour of any day and on a chargeable basis, subsequently thus helping the public to avail online services/information, thereby contributing towards Digital India initiative of the Government. 
  • Till November, 2021, 575 pairs of trains have been replaced with Linke Hofmann Busch (LHB) coaches which are technologically superior and provide better traveling experience and safety.
  • Indian Railways has introduced a new era and a paradigm shift of train travel experience with enhanced comfort with the conversion of Rajdhani Express coaches with new upgraded Tejas Trains.
  • 1174 number of stations have been provided with Train Indication (Boards) Systems and 680 Number of Railway stations have been provided with Coach Indication (Guidance) System.
  • The total length of the Metro running in Uttar Pradesh has increased from 9 Km in 2014 to more than 90 km in 2021.
  • Medical facilities have been ramped up, new facilities have been created and existing facilities have been improved in Railway hospitals. 78 Oxygen generating plants have been installed and are functional in Railway hospitals.
  • Till 31st December 2021, more than 899 Oxygen Express Trains have completed their journey and more than 36,840 Tonnes of liquid Oxygen has been delivered to the 15 states. Oxygen Express also delivered oxygen (3911.41 MT) for Bangladesh.
  • Approximate 10.97 lakh employees get vaccinated with 1st Dose and 8.38 lakh vaccinated with both doses upto 30th December 2021 in 135 vaccination centers, operational in Indian Railways.
  • Rail madad disposal time reduced to 13 minutes in comparison to 3 hours 6 minutes in the year 2021.
  • The first Janshatabdi express trains between Manipur and Tripura will provide a major boost to passenger connectivity, trade and tourism in North East Region.
  • Highest ever freight loading by Railways of 55.06 mn tonnes is recorded from April to December 2021.
  • Highest ever Ticket checking revenue by Railways of INR 144.23 crore is recorded from April to December 2021.
  • The first ever goods train reached Rani Gaidinliu Railway Station in Manipur’s Tamenglong district. GOI focuses on enhancing Manipur’s connectivity and boost commerce.
  • Bhadrachalam in Telengana added as a destination in the IRCTC’s Ramayana Circuit train.
  • Mumbai Central Division of Western Railway, has achieved a milestone of loading the  100th Textile train from Chalthan (Surat area) to Sankrail (Kharagpur Division, SER) within a span of 5 months.
  • At present, 45 number of trains over Zonal Railways are being operated with Vistadome coaches in their composition.
  •  ‘Kavach’ is one of the cheapest, Safety Integrity Level 4 (SIL-4) certified technologies with the probability of 1 error in 10,000 years which has been successfully trialed between Gullaguda – Chitgidda Railway stations in South Central Railway.
  • CSIR's newly developed Disinfection UV-C technology is being installed to combat pandemic in railway coaches, AC buses, closed spaces etc.
  • Konkan Railway accomplishes ‘Mission 100% Electrification’.
  • 14.5 km long Rail-cum-Road-bridge over Ganga River approach project on NH 333B in Munger, Bihar is inaugurated at a cost of INR 696 crore with the aim to connect every city, every village of Bihar.
  • Indian Railways breaches 1418 MT Freight Loading mark for 1st time in Financial Year-2021-22 from 1233.2 MT in FY- 2020-21, thus achieving an incremental growth of 15 %. 
  • Record electrification of 6,366 RKMs has been achieved in IR history during 2021-22. As on 31st March 2022, out of 65,141 RKM of BG network of IR (including KRCL), 52,247 BG RKM has been electrified, which is 80.20% of the total BG network.
  • In New Line/ Doubling/ Gauge Conversion, 2904 km was achieved against target of 2400 Km, and 2361 km of 2020-21. It is 23% more than last year.
  • Highest ever Electric Loco Production & induction of 1,110 Locos (965 by Rly Pus + 35 BHEL +  110 Madhepura) was achieved in FY 2021-22.
  • Highest ever Scrap Sale achieved INR 5316.1 Cr, as compared to INR 4571.4  Cr in 2020-21 (+16.2%) (Target: Rs 4100 Cr).
  • Total Panel/ Electronic Interlocking of Stations achieved 444 and Kavach commsisioned at 850 Rkm.
Recent Announcements

6th May 2022: Railway Protection Force (RPF) signs MoU with Association for Voluntary Action (AVA) for a trafficking free nation.

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28th April 2022: MoU signed for provision of Telecommunication facilities in the delivery and implementation of C-DOT’s Telecom Solutions and services in Railways

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16th March 2022: Indian Railways have prepared a National Rail Plan (NRP) for India – 2030.

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6th March 2022: PM inaugurates Pune Metro Rail Project to ease mobility in Pune.

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4th March 2022: Successful trial of ‘Kavach’ conducted between Gullaguda – Chitgidda Railway stations in South Central Railway.

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  • Indian Railways has total Broad Gauge (BG) network of 64,689 Route kilometer (RKM) including 740 RKM of Konkan Railway.
  • In 2018-19, 5,276 RKM of the railway line was electrified which is 29% higher than the previous year and also the highest electrification was ever done in a single year. 2
  • In the month of December 2020, Indian Railways loading was 118.13 mn tonnes which are 8.54% higher compared to last year’s loading for the same period (108.84 mn tonnes).15  
  • The total Passenger Earnings (including both Suburban and Non-suburban) was INR 51 thousand cr in 2018-19. 2
  • The loading for the month of February 2021 was 112.25 mn tonnes, which was almost 10 % higher than that as of February 28 of last year.
  • The Indian Railways has a total number of 1,50,746 bridges, as of April 2019, out of which 700 bridges are important, 12,402 bridges are major, and 1,34,644 bridges are minor. 2
  • About 1,305 (Road Under Bridge) RUBs/ subways and 172 (Road Over Bridge) ROBs were constructed In the year 2018-19. 2
  • In this FY 2021-22, Indian Railways total loading is 185.04 mn tonnes (MT) to date which is 10.37 % higher compared to the year 2019 loading figures (167.66 MT) for the same period.
  • Indian Railways earned a total of INR 4,573 cr during 2020-21 through scrap sale which is 5.5% higher compared to INR 4,333 cr during 2019-20.18
  • In the month of May 2021, Indian Railways loading is 92.29 MT which is 10% more than May 2019 (83.84 MT) and 43% more than May 2020 (64.61 MT) for the same period.
  • During the year 2021-22 Indian Railways has augmented the transportation of Coal through Railways by a record 111 Mn tonnes and loaded a record 653 Mn Tonnes of coal as compared to 542 Mn tonnes in the previous year showing a growth of 20.4 %.
Growth Drivers
  • Under Atmanirbhar Bharat Abhiyaan - Self Reliant India, their is a special economic and comprehensive package of INR 20 lakh crores towards promoting manufacturing in India. 
  • Railways aim to complete the electrification of its entire broad-gauge network by 2023. 
  • India, ADB sign USD 500 mn loan to expand Metro Rail Network in Bengaluru. 
  • Railways complete electrification work of total 649 Route Kilometers from Katihar to Guwahati over Northeast Frontier Railway.
  • Fourteen Railway Projects Costing INR 22,067 crores being Undertaken to Enhance Coal Transportation Efficiency and further enhancing the capacity of coal evacuation process which will help in reducing the time and cost incurred in the transportation of the coal. These projects will cover the distance of 2680 Km approximately, which will be spread across the Indian states of Jharkhand, Odisha and Chhattisgarh. 
  • CIL is constructing 21 additional railway sidings at an estimated investment of INR 3,370 crores across four of its subsidiaries which include both green field and brown field ones to be commissioned by FY24. 
  • As on 1st April 2021, 484 Railway projects of 51,165 Km length, costing approx. `7.53 lakh crore are in different stages of planning/sanction/execution, out of which 10,638 Km length has been commissioned and an expenditure of approx. `2.14 lakh crore has been incurred upto March, 2021.
  • 14 new railway line projects have been taken up at a total cost of INR 56,553 crore in the North East Region of India.
  • Railways has road map in place for supplying rakes to long distance Thermal Power Plants.
  • A unified Vendor Approval System for single-interface approval of vendors is implemented which provides vendors with complete single-window online process for vendor approval starting from submission of application stage to payments, communication and final approvals. 
  • Indian Railway is associating more and more Industry partners with its supply chain and steps had been taken in this direction to enhance ease of doing business for the industry. 
  • Railway has reduced the vendor application fee that was being taken for applying for approval of vendor with RDSO for identified safety items. It has now been reduced from INR 2.5 lakhs to INR 15000/- and INR 1.5 lakhs to INR 10000/-.
  • Shri Narendra Modi dedicated various Railway projects in Bhopal, Madhya Pradesh. Two new MEMU trains between Ujjain-Indore and Indore-Ujjain are flagged off. 
  • Two suburban trains of the Mumbai Suburban Railway connecting Thane and Diva are flagged off to bring ease of life for the residents of the ever-mobile metropolitan city of Mumbai.
  • The theme-based tourist circuit trains 'Bharat Gaurav Trains' will showcase India’s rich cultural heritage and magnificent historical places to the people of India and the world.
  • The Mumbai-Ahmedabad High Speed Rail, the High Speed Rail project is executed with technical & financial assistance of Government of Japan. 
  • As a part of Atmanirbhar Bharat, 2,000 km of network will be brought under Kavach for safety and capacity augmentation in 2022-23. Around 34,000 Kms of network will be brought under Kavach.
  • CPWD has signed an MoU with DMRC to plan and execute an Underground Metro loop corridor in the Central Vista.
  • Ministry of Railways signed an MOU with the Centre for Development of Telematics (C-DOT) to establish a robust collaborative working partnership for coordination and resource sharing with respect to provision of Telecommunication facilities in the delivery and implementation of C-DOT’s Telecom Solutions and services in Railways.
  • Railway Protection Force (RPF) signs MoU with Association for Voluntary Action (AVA) for a trafficking free nation.
  • BHEL signed MoUs with SIEMENS Mobility Germany, and SIEMENS Ltd-India, to jointly address the opportunities in upcoming light rail rolling stock segment (MetroLite) in India.
  • Coal Companies & Indian Railways have envisaged to jointly ensure per day coal loading of 415 rakes of domestic coal and 30 rakes of imported coal to power sector.
FDI Policy
  • The FDI Policy permits 100% FDI in the railway's infrastructure sector. FDI is permitted in the construction, operation and maintenance of the railway transport sector: 6
    1. Suburban corridor projects through PPP model
    2. High-speed train projects
    3. Dedicated freight lines
    4. Rolling stock including train sets, and locomotives/coaches manufacturing and maintenance facilities
    5. Railway electrification
    6. Signalling systems
    7. Freight terminals
    8. Passenger terminals
    9. Infrastructure in industrial park pertaining to railways line/sidings including electrified railways lines and connectivity to the main railway’s line
    10. Mass Rapid Transport Systems
  • The cumulative FDI equity inflow in the Railway related components industry is USD 1,227.69 mn during the period April 2000 to December 2021.7


Read more about Foreign Direct Investment Policy in India >

Sector Policy
  • The ‘General Purpose Wagon Investment Scheme’ (GPWIS) allows investment by Public Sector Undertaking (PSUs), End users, Port Owners, Mine Owners and Logistics Providers in General Purpose Wagons. The scheme permits investment in a minimum of one rake of General Purpose Wagons by the eligible parties for movement in any of the approved circuit(s) to carry any commodity. During the year 2018-19, 77 rakes have been approved, out of which 2 rakes have been inducted and are in operation. The Ministry of Railways has further liberalized the scheme for prospective investors. 2
  • The ‘Liberalized Wagon Investment Scheme’ (LWIS) allows investments by End Users, i.e., producers, manufacturers and consumers of goods in Special Purpose Wagons (SPW) and High Capacity Wagons (HCW). Procurement of 84 rakes have been approved, out of which 51 rakes have been inducted under the scheme. 2
  • Gati Shakti Cargo Terminal Policy is Launched to fast track the approvals and ease of establishing Cargo Terminals to increase the freight loading share of Indian Railways.
  • The ‘Automobiles Freight Train Operator’ (AFTO) Scheme allows procurement and operation of special purpose rakes by private parties for transportation in the automobile sector. Procurement of 59 rakes has been approved, out of which 19 rakes have been inducted as of March 2019. 2
  • The ‘Special Freight Train Operator’ scheme allows investment in the procurement of High Capacity Wagons (HCW) and Special Purpose Wagons (SPW) for the purpose of transporting non-traditional commodities such as edible oil, caustic soda, molasses, fly ash, alumina, bulk cement, chemicals and petrochemicals. Procurement of 28 rakes has been approved, out of which 7 rakes have been inducted under the scheme. 2
  • The ‘Private Freight Terminals (PFT) Policy’ assists the development of a network of freight terminals with private investment. The focus of the policy is to provide cost-effective and efficient logistics services along with warehousing solutions to the end users. About 109 PFT proposals have been received as of March 2019, out of which 60 PFTs have already been notified/ commissioned. 2
  • “Meri Saheli” initiative by Indian Railways focused action on security of women across all zones with an objective to provide safety and security to lady passengers travelling by trains.  These lady passengers are briefed about all precautions and told to dial 182 in case they face or see any problem in the coach.13

Adarsh Station Scheme

  • Railway stations are upgraded/modernized under Adarsh Station Scheme based on identified need of providing better enhanced passenger amenities at stations.
  • 1253 railway stations have been identified for development under Adarsh Station Scheme. Out of these, 1211 railway stations have been developed and the remaining 42 stations are targetted for development in Financial Year 2022-23.
  • The expenditure incurred for modernization of stations during the last three years and current year (till November, 2021) i.e. 2018-19, 2019-20, 2020-21 and 2021-22 (till Nov, 2021) are INR 1585.88 crore, INR 1903.11 crore, INR 2582.90 crore and INR 1061.83 respectively.

National Rail Plan

  • National Rail Plan (NRP) for India – 2030 is prepared to create a ‘future ready’ Railway system by 2030. The objective of the plan is to create capacity ahead of demand, which in turn would also cater to future growth in demand right up to 2050 and also increase the modal share of Railways to 45% in freight traffic and to continue to sustain it. 

Gati Shakti Multi-Modal Cargo Terminal (GCT)’ Policy

  • A new ‘Gati Shakti Multi-Modal Cargo Terminal (GCT)’ policy has been launched to boost investment from industry through development of additional terminals for handling rail cargos.
  • The locations for GCTs are being identified/finalized on the basis of demand from industry and potential of Cargo Traffic. As on 1st April 2022, 6 GCTs have already been commissioned and around 74 more locations have been provisionally identified for development of GCTs. 

Explore Government policies/ schemes in Railways sector >

Financial Support
  • The ‘Indian Railway Finance Corporation Ltd.’ (IRFC) is a wholly Government-owned PSU under the administrative control of the Ministry of Railways. It mobilizes market borrowings to finance capital expenditure in the Railways. The Market funds raised by IRFC account for Extra- Budgetary Resources (EBR) for Railway Plan and are invested in rolling stock and projects leased by IRFC to the Ministry of Railways. 

Union Budget 2022-23

  • The total budgetary allocation for FY 2022-23 towards the   Ministry of Railways is INR  1,40,367.13 cr.
Investment Opportunities

Some key investment opportunities for private players in the Railways sector include the following: 2

  • Suburban corridor projects through PPP
  • High-speed train projects
  • Upcoming dedicated freight lines
  • Rolling stock including train sets and locomotives or coach manufacturing and maintenance facilities
  • Railways electrification
  • Signalling systems
  • Freight terminals or logistics parks
  • Passenger terminals
  • Railways technical training institutes
  • Testing facilities and laboratories
  • Concessions in standalone passenger corridors (such as brand lines and hill railways)
  • Non-conventional sources of energy
  • Mechanized laundry
  • Rolling stock procurement
  • Bio-toilets
  • Technological solutions for manned and unmanned level crossings
  • Technological solutions to improve safety and reduce accidents


Explore projects to invest in Railways sector >

Foreign Investors
  • Alstom Transport Holdings B.V. (Netherlands)
  • Bombardier (Singapore)
  • Ansaldo STS (Australia)
  • GE Capital International (Mauritius)
  • Inversiones EN Concesiones (Spain)
  1. About Indian Railways, http://www.indianrailways.gov.in/railwayboard/view_section.jsp?lang=0&id=0,1
  2. Indian Railways Annual Report & Accounts 2018-19, http://www.indianrailways.gov.in/railwayboard/uploads/directorate/stat_econ/Year_Book/Indian%20Railways%20Annual%20Report%20%26%20Accounts%20English%202018-19.pdf
  3. Indian Railways - Vision & Plans, http://www.indianrailways.gov.in/Railways%20Presentation.pdf
  4. Private sector participation in Railway works, Ministry of Railways, PIB, https://pib.gov.in/PressReleasePage.aspx?PRID=1602428
  5. Year-End Review 2019: Ministry of Railways, https://pib.gov.in/PressReleasePage.aspx?PRID=1598076
  6. Consolidated FDI Policy, https://static.investindia.gov.in/s3fs-public/2020-09/FDI%20Policy%202020%20revised_18%20Sept%202020.pdf
  7. Factsheet on FDI - April 2000 to December 2021Department for Promotion of Industry and Internal Trade, https://dpiit.gov.in/sites/default/files/FDI%20Factsheet%20December%2C%202021.pdf 
  8. Minister of Railways inaugurates Website of National Rail Plan, 2030, https://indianrailways.gov.in/railwayboard/uploads/directorate/prd/PR/MR_Inaug_Website_08122016.pdf
  9. Expenditure Budget, Ministry of Railways, https://www.indiabudget.gov.in/doc/eb/sbe83.pdf
  10. Indian Railways commissions first Waste to Energy Plant in Bhubaneswar, Ministry of Railways, PIB, https://pib.gov.in/PressReleasePage.aspx?PRID=1600784
  11. Indian Railways creates a new world benchmark, Ministry of Railways, PIB, https://pib.gov.in/PressReleasePage.aspx?PRID=1630909
  12. Indian Railways operationalises its most powerful 12000 HP made in India locomotive, Ministry of Railways, PIB, https://pib.gov.in/PressReleasePage.aspx?PRID=1625158
  13. Indian Railways creates a new world benchmark, Ministry of Railways, PIB, https://pib.gov.in/PressReleasePage.aspx?PRID=1668560
  14. PIB Release, https://www.pib.gov.in/PressReleasePage.aspx?PRID=1683803
  15. PIB Release, https://www.pib.gov.in/PressReleasePage.aspx?PRID=1685602
  16. News Update, https://www.financialexpress.com/infrastructure/railways/make-in-india-success-indian-railways-clw-creates-record-by-manufacturing-250-locos-in-188-working-days/2160850/
  17. PIB Release, https://www.pib.gov.in/PressReleasePage.aspx?PRID=1707236
  18. PIB Release, https://www.pib.gov.in/PressReleasePage.aspx?PRID=1710137

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