The railway manufacturing sector holds significant promise for job creation and business opportunities for MSMEs in eastern India. West Bengal, being the hub of railway manufacturing, currently requires a substantial number of skilled workers for both direct and indirect roles within this industry. It is essential for numerous MSMEs to engage actively in the railway manufacturing landscape, said Mr Prithish Chowdhary, Co-Chairman, CII ER Manufacturing Subcommittee & Deputy Managing Director, Titagarh Rail System, at the Rail Connect East 2024, organised by CII Eastern Region in Kolkata on 19th December.
Mr Chowdhary asserted that the future of Indian Railway looks bright. Government’s focus on ongoing and future railway projects—such as infrastructure development, digitalization, metro rail network expansion, and enhancements in both freight and passenger capacity—will significantly strengthen the railway system. To stimulate the railway manufacturing sector in India, Indian Railways has committed to an investment of Rs. 7 lakh crores over the next decade, which will facilitate the modernization of the network. The railway system is currently undergoing a significant transformation, and the substantial capital expenditure announced in the Union Budget is expected to yield impressive outcomes.
Mr Asad Alam, Chairman & Managing Director, Braithwaite & Co. Ltd., stressed that Indian Railways has set an ambitious target to transport 3,000 million metric tons of freight by 2027, increasing this goal to 3,600 million metric tons by the fiscal year 2030-31. Indian Railways aims to capture 45 percent of the freight market share by that time. With most wagon manufacturers situated in and around Kolkata, there is a substantial opportunity for these manufacturers to play a crucial role in achieving this objective.
Mr Sudipta Mukherjee, Managing Director, Texmaco Rail & Engineering Ltd., pointed out that the majority of the railway industry originates from the eastern part of India, and we are proud to acknowledge that these companies have reached a global status. The Indian railway sector is honoured to be recognized on an international scale. To ensure the continued success of this industry, it is critical to integrate MSME in the railway ecosystem. This creates a significant opportunity for young entrepreneurs to emerge as important contributors to the economy.
Mr Vikash Lohia, Director, Jupiter Wagons Pvt Ltd, highlighted that by 2030, reaching the milestone of building 2200 Kms of dedicated trade corridors will be an impressive accomplishment. The eastern dedicated and western dedicated freight corridors are vital for enhancing the effectiveness of transporting goals and optimizing logistic activities.