travel and tourism sector has seen a robust demand in 2023, and the future looks even brighter. India's travel sector is revving up, projected to be the fifth largest outbound travel market by 2027. The national transporter aims to ferry seven billion passengers annually, projecting an increase to 10 billion by 2030.
To meet this and to eliminate waiting lists, the number of daily trains needs to increase substantially. To meet the surging demand in passenger travel, the Indian Railways is gearing up for a massive investment of ₹1 trillion (tn) in acquiring new trains over the coming years. Railways minister Ashwini Vaishnaw shed light on the upgrade that aims to cater to the nation's evolving transportation needs and eliminate waiting lists in the long term.
The Indian Railways plans to procure 7,000-8,000 new train sets over the next 15 years. This move aligns with the broader plans of enhancing passenger and domestic goods transportation capabilities. Currently, the railways are operating 10,754 trips daily, and it plans to add 3,000 more.
The railways expect to close 5,500 to 6,000 kilometres of new tracks, equivalent to 16 kilometres per day, by the end of the ongoing financial year, itself. These initiatives aim to free up tracks, facilitating faster movement of both passengers and goods. With this fund allocation, the railway sector has garnered significant attention, making some companies prime beneficiaries.
Here are a few of them… Leading the list is Rail Vikas Nigam. RVNL was incorporated in 2003 by the government of India. It is engaged in implementing various types of rail infrastructure projects assigned by the Ministry of Railways.
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