ENA Sectors 2024-11-27 14:36:57 <p><span style="font-size:14px"><strong>New Delhi, Nov 27 (KNN)</strong> Russian railway authorities have expressed significant interest in establishing manufacturing facilities in India to address their domestic production requirements, according to a senior railway ministry official on Tuesday.</span></p> <p><span style="font-size:14px">The initiative comes as Russian railway major TMH signals its commitment to investing in the Indian manufacturing sector, reported TOI.</span></p> <p><span style="font-size:14px">A top government official revealed that Russia is specifically targeting the establishment of manufacturing facilities in India to meet its substantial domestic needs.</span></p> <p><span style="font-size:14px">The strategy involves sourcing critical railway components and supplies directly from Indian production lines.</span></p> <p><span style="font-size:14px">Kirill Lipa, CEO, TMH, highlighted the attractiveness of India's current investment landscape during a press briefing at the company's Moscow headquarters.</span></p> <p><span style="font-size:14px"> The current interest rate in India is very different from other countries, Lipa stated.</span></p> <p><span style="font-size:14px">He emphasised the company's readiness to invest in developing multiple facilities capable of producing components that could potentially be supplied to the Russian market.</span></p> <p><span style="font-size:14px">The engagement builds upon a historically robust relationship between Indian suppliers and Russian railway enterprises. Lipa noted existing supply contracts and expressed confidence in expanding import volumes from India.</span></p> <p><span style="font-size:14px">A significant milestone in this collaboration is TMH's involvement in Kinet Railway Solutions, which has secured a substantial contract worth approximately Rs 55,000 crore with Indian Railways.</span></p> <p><span style="font-size:14px">The contract involves producing 1,920 Vande Bharat sleeper coaches and providing maintenance services for 35 years.</span></p> <p><span style="font-size:14px">Addressing potential concerns about international sanctions, Lipa asserted that the current geopolitical climate would not impact the Vande Bharat project.</span></p> <p><span style="font-size:14px">He confirmed that the company has identified suppliers within India and other countries aligned with India-Russia relations, without relying on Russian supply chains.</span></p> <p><span style="font-size:14px">This strategic partnership underscores the growing economic and industrial cooperation between India and Russia in the railway manufacturing sector, potentially opening new avenues for bilateral trade and technological exchange.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 40053 https://knnindia.co.in/news/newsdetails/sectors/russia-seeks-to-expand-railway-manufacturing-investments-in-india 2024-11-27 14:36:57 knnindia.co.in