FICCI suggests formulation of National Railway Plan

New Delhi: Industry chamber FICCI has suggested the government to formulate a national railway plan and reform procurement policy and processes to facilitate industry participation in the rail sector.

It has also recommended phased manufacturing programme, expansion of PPP (public-private partnership) model to newer areas, and closer collaboration with industry for the absorption of technology.

The recommendations are part of a report prepared by FICCI’s capital goods committee on opportunities for the industry with Indian Railways and metros.

The report highlighted various opportunities for capital goods sector under ambitious construction projects such as high-speed rail and dedicated freight corridors.

It said railways will offer new manufacturing opportunities worth Rs 28,000 crore per year.

The report enlisted 10 recommendations for policymakers to further facilitate industry participation in these opportunities.

“It includes the formulation of national railway plan, reforms in procurement policy and processes, strategic initiatives such as phased manufacturing program,” it said.