No Need for FDI in Rail Infrastructure

Source:  www.newindianexpress.com

KOCHI: Railway employees’ unions have strongly opposed the Narendra Modi-led Central Government’s decision to invite investment from China and Japan in rail infrastructure development.

All-India Railway Men Federation vice-president Raja Sreedhar, who was in Kochi on Friday, said the government’s move to bring investment and technology from China and Japan was unnecessary as India is capable of manufacturing coaches and tracks on its own.

Last month, China had signed an MoU with India to develop infrastructure for the Indian Railways. Meanwhile, Japanese technology is likely to be used for launching bullet trains in the country.

“There is no need for a transfer of technology. Prime Minister Narendra Modi seems to be spellbound by the bullet trains systems in developed countries like Japan. With the amount the government is planning to allocate for the construction of rail corridors (`66,000 crore), the entire railway infrastructure of the country could be revamped,” Raja Sreedhar said. More info

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