IBEF: January 28, 2020
The entire network of the Indian railways will be run completely on electricity by 2024 and will become a net-zero emission network by 2030, according to the Minister of Commerce and industry, and railways, Mr Piyush Goyal.
Mr Goyal was present at the India-Brazil Business Forum where he said, "By the year 2024, we expect the entire Indian Railways, which is about 125,000 km of track length and nearly 68,000 km of route length, to be 100 per cent run on electricity".
"By 2030, we plan to make the entire railways network a net-zero emission network. We will have no emission from the railways, it will run on clean energy and clean power," he added.
Indian railway will be the first railway in the world to be run fully on electricity. This move is towards a better and safe environment. Thus, the Indian railway is focusing on rapid electrification of the rail network.
The minister also added that the partnership with Brazil on a rapid engagement on the railways side is welcomed and it is expected that investments will also increase in the sectors of clean energy, start-ups, railways and creation of value chains between the two countries where goods may be semi assembled in one country and finished in another.
According to Mr Goyal, both the countries have set up a target to take the bilateral trade to US$ 15 billion by 2022 from the present US$ 8.3 billion and suggested the Brazilian side to reconstitute and activate India-Brazil Business Leaders Forum to enhance the economic ties between the two countries.
He further requested the Indian industry to give fresh nominations of people who are looking for engaging with the South American country.
He further added that businesses of both the sides can look at potential in areas like railways, infrastructure, tourism, agriculture, clan energy and start-ups. He said that visitors for business and tourism between two countries will be benefited by the announcement of visa free travel between the two countries by President of the Federative Republic of Brazil, Mr Jair Bolsonaro.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.