Indian Railways Is On Track For $15 Billion Capital Investment This Year, Says Vaishnaw

Railway Minister Ashwini Vaishnaw has said that the railways alone is undertaking capital investment of $15 billion out of the public investment of $80 billion announced in the previous budget, and is on track to achieve this by March 2022.

Vaishnaw was speaking at the CII Partnership Summit, organised in association with the Department for Promotion of Industry and Internal Trade (DPIIT) and Ministry of Commerce and Industry.

Touching upon the country’s increased focus on clean energy to tackle climate change, Vaishnaw informed that the Indian Railways aims to achieve 'net zero' by 2030 for which the plans shall be laid out in the next two to three years.

He also added that about 40 gigawatt of renewable energy tenders will be released which would attract high volumes of investment, including from abroad.

Vaishnaw said that big technology is one of the top five challenges the world is facing today.

Big technology organisations have a significant impact on democracy and society at large, he said, and added that they also have the power to make a fundamental difference in the vital economic activities of the country.

He further said that rising geopolitical tensions and constantly changing global equations have challenged the ideological thought about globalisation, bringing out the fragility of global supply chains.

Under the aegis of the Digital India Initiative, which aims to provide universal Internet access to the country’s 1.3 billion population, the Ministry of Telecommunications has been undertaking several steps to ensure that connectivity is available even at the last mile.

“As everything went digital, the pandemic made us realise the importance of digital connectivity and availability for all,” Vaishnaw added.

He noted that the challenge of cyber security has become a global phenomenon and as a society, it is imperative to establish a synergy amongst the countries.

In its preparedness to overcome the threats being posed by cyber security, India has been consistently working towards bringing in relevant technology and investment in the country.