Our Bureau
Ahmedabad
In a landmark event on 30th November 2024, underscoring the significance of global partnerships in the railway sector, select Rail Manufacturers of Gujarat got to meet a distinguished delegation from UK. The event was organized by Nvision Advisory, a unique international business advisory firm with nearly two decades of experience across multiple countries and foreign governments.
The event brought together senior representatives from 1 bilateral trade body and 3 leading British rail companies. Key attendees included:
- Ms. Catherine, UK Rail Forum’s Engagement Director, represents over 390 rail industry members in UK based in one of the largest rail company clusters globally.
- Mr Baljit Singh, Executive Director of Indo-British Trade Council (IBTC)
- A Senior Director of Icomera, one of the world’s leading providers of integrated connectivity solutions for trains, trams, buses and coaches, with 75000 people working across 17 countries.
- A senior representative from Washington Metalworks, a premier provider of metal fabrication services in the UK.
Mr Baljit Singh, Executive Director of the IBTC, emphasized India’s robust economic growth and its potential for collaborative ventures with the UK. He highlighted the Council’s longstanding efforts to create jobs, foster innovation, and enhance bilateral relations since 1977.
Nikhil Sheth, Founder and Chief Mentor of Nvision Advisory presented on India UK bilateral trade ties, India’s advancements in railway infrastructure, including investments of over ₹111 lakh crores under the National Infrastructure Pipeline (NIP) and Gujarat’s Railway Master plan.
Nikhil explained the origins of this event in the form of dialogue initiated by IBTC with UK Rail Forum at Derby, UK on 10th September with the participation of the Consulate General of India in Birmingham.
As per the release, India-UK bilateral trade (both goods and services) stood at £36.3 billion during the FY 2022-23 (April 2022 – March 2023), an increase of 34.2% or £9.2 billion from 2021-22.
He emphasized on the potential rail trade between both countries given the current exports from India to UK, joint ventures, tech transfers and the leading rail exports from India globally, including of semi-high-speed trains like Vande Bharat to Europe, South America, and East Asia.
India’s global exports of railway products grew at and reached US$ 1,240 million in FY22, including rail coaches, shells, railway rakes and other components.
Ms. Catherine, UK Rail Forum, provided an overview of the challenges faced by the UK rail sector, noting the stark contrast in scale between the UK and India’s rail networks. She discussed the difficulties posed by aging infrastructure, including Victorian-era bridges and limited space for expansion, which make innovations like double-decker trains unfeasible. The UK’s rail system, privatized in the 1990s, is gradually transitioning towards more government control, resulting in a complex structure of ownership, operation, and maintenance.
Ms. Catherine emphasized the UK’s focus on improving performance, enhancing passenger comfort, addressing decarbonization, and increasing vehicle capacity. She noted that unpredictable weather events, such as storms and flooding, complicate the decarbonization efforts, affecting rail operations and passenger satisfaction. Despite these hurdles, the UK is committed to a sustainable and efficient future for its rail industry.
Address by Nikhil, Rail Industry Expert and Founder and Chief Mentor of Nvision Advisory focused on the competitive landscape of the global rail industry, with particular attention to India’s expanding role. He detailed the success of Indian Railways, which reported a revenue of US$ 30.76 billion, with 68% generated by freight traffic. He emphasized India’s Vision 2024, which aims to electrify over 6,577 kilometers of rail tracks and invest in renewable energy, including 1,000 MW of solar power and 200 MW of wind energy by 2025.
Nikhil also highlighted India’s “Hungry for Cargo” initiative, which has driven the growth of the country’s freight sector.
He further noted that the Indian government’s push for 100% Foreign Direct Investment (FDI) in the rail sector is attracting significant international investment.
Gujarat plays a key role in India’s rail ambitions, with 93% of its broad-gauge network electrified. The state is also poised to manufacture over 400 Vande Bharat trains in the next three years. As India expands its rail infrastructure, it is poised to become a global leader in the rail industry, with significant export potential.
Nikhil also discussed India’s commitment to innovation in the rail sector, inviting international partners to collaborate on projects ranging from high-speed trains like Vande Bharat to metro systems, freight corridors and operational models, with revenue-sharing options for interested partners.
India is keen to foster partnerships that can help modernize its rail network through the “Make in India” initiative and integrate cutting-edge technologies like AI and Kavach for enhanced safety and efficiency.
Nikhil spoke of opportunities for collaboration including the fact that the Indian Railways is actively inviting global partners, especially from the UK, to explore a range of opportunities to contribute to India’s rail development.
The Indian Railways is committed to creating a world-class rail infrastructure and looks forward to engaging with partners at upcoming networking sessions to discuss collaboration opportunities with UK rail and similar like-minded country partners.
There were 25 companies attending this railway focused business seminar and networking meet with 16 rail focused manufacturers and exporters who were setup for a one-to-one business matchmaking meet including 5 online video meetings.
The one to one discussion focused on bilateral trade and partnership opportunities in the form of technology transfer and join ventures.
Nikhil underlined that there is a much larger delegation of UK rail companies planned by IBTC in 2025 after this visit of the smaller pilot British rail delegation.
Renowned for delivering impactful marketing strategies and tangible results for private and public sector organizations globally, Nvision Advisory played a pivotal role in orchestrating this prestigious event.
The event was sponsored by the Indo-British Trade Council (IBTC), a visionary organization inspired by a dialogue with the late Dr. A.P.J. Abdul Kalam, former President of India. The IBTC has been instrumental in fostering innovation and strengthening economic ties between India and the UK.
The event was made possible in no small measure due to the generous patronage of Mr. Rakesh Shah, Distinguished Patron of IBTC, Chairman of GSEC, custodian of cargo operations at a number of Indian Airports, including Ahmedabad and the Previous President of Gujarat Chamber of Commerce & Industry.
