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Russia eyes India for train manufacturing to fulfil domestic needs
Industry News- Dec 02,24
This move aligns with Russian railway giant TMH’s interest in establishing manufacturing facilities in India.
Russia is exploring opportunities to invest in train manufacturing and component production in India to address its domestic demand, according to a senior official from India's railway ministry. This move aligns with Russian railway giant TMH’s interest in establishing manufacturing facilities in India.
Kirill Lipa, CEO, TMH, shared the company’s vision with Indian journalists during a briefing at its Moscow headquarters. He noted that India’s favourable interest rates and established supplier networks make it an attractive destination for investment. TMH plans to develop multiple manufacturing facilities in India capable of producing components for both the Indian and Russian markets.
Highlighting existing ties, Lipa stated, "We have a historically strong relationship with Indian suppliers, which enables us to expand imports into Russia from India." He also assured that current international sanctions would not impact their projects.
TMH is a major stakeholder in Kinet Railway Solutions, which recently secured a Rs 550 billion contract with Indian Railways to manufacture 1,920 Vande Bharat sleeper coaches and maintain them for 35 years. Lipa emphasised that for this project, the company is sourcing supplies primarily from Indian or other non-Russian partners to ensure smooth operations.
This partnership not only reflects Russia’s growing reliance on India’s manufacturing capabilities but also reinforces the collaboration between the two nations in the railway sector.
(TOI)
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