India, Russia to Cooperate on Rail Travel

27 Nov 2024 , 12:27 PM

India and Russia are on track and moving along rather nicely, this time literally, as they are about to sign a rail manufacturing agreement. To address some of its own needs, India’s longstanding diplomatic and commercial partner plans to invest in Indian train and component production, according to a November 27 ToI story. This comes after the Russian railway company TMH expressed interest last week.

The strategy was further explained by TMH CEO Kirill Lipa at the company’s Moscow headquarters. “Compared to other nations, India’s current interest rate is much different. We are therefore prepared and eager to invest in India. We are interested in building a number of facilities in India that can supply specific components, some of which we believe can also be delivered to the Russian market.

Lipa mentioned the two nations’ current supply agreements. “We can increase this import into Russia from India because we have historically had good relationships with suppliers there (India).”

They wish to establish industrial facilities here in order to meet their massive domestic needs. According to a railway ministry official cited in the ToI report (written by Dipak K. Dash), “They want to get these supplies from India.”

Kinet Railway Solutions, which has a Rs 55,000 crore deal with Indian Railways, is primarily owned by TMH. This agreement includes the manufacturing and 35-year upkeep of 1,920 Vande Bharat sleeper coaches.

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