Federation of Indian Chambers of Commerce and Industry (FICCI) has suggested the government to formulate a national railway plan and reform procurement policy and processes to facilitate industry participation in the railway sector.
- It has also recommended phased manufacturing programme, expansion of PPP (Public-Private Partnership) model to newer areas, and closer collaboration with industry for 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.
- Railways will offer new manufacturing opportunities worth Rs 28,000 crore per year, it said.
- The report enlisted 10 recommendations for policy makers to further facilitate industry participation in these opportunities.
- It said, “It include formulation of national railway plan, reforms in procurement policy and processes, strategic initiatives such as phased manufacturing program.”