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Railways on track for USD 15 billion capital investment this year: Ashwini Vaishnaw, Railways Minister, at CII Partnership Summit
Dec 13, 2021

Mr Ashwini Vaishnaw, Minister of Railways, Communications and Electronics and Information Technology, Government of India, listed out big technology as one of the top 5 challenges being faced globally. He was speaking at the CII Partnership Summit 2021, organised in association with Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry.

Big technology organisations have a significant impact on democracy and society at large, he stated. They also have the power to change behavioural aspects and affect decision-making capabilities which makes a fundamental difference in the vital activities of the country.

Mr Vaishnaw further said that rising geopolitical tensions and constantly changing global equations, which remain to be fully understood, have challenged the ideological thought about globalisation and brings out the fragility of global supply chains.

Highlighting that India has moved towards an investment driven recovery, Mr Vaishnaw informed that the Ministry of Railways alone is undertaking capital investment of USD 15 billion out of the public investment of USD 80 billion announced in the previous budget and is on track to achieve this by March 2022.

Touching upon the country’s increased focus on clean energy to tackle the climate change, Mr Vaishnaw informed that the Indian Railways aims to achieve Net Zero by 2030 for which the plans shall be laid out in the next 2 - 3 years. He also added that about 40 gigawatt of renewable energy tenders will be released which would attract high volumes of investment, including form overseas.

Under the aegis of the Digital India Initiative, which aims to provide universal internet access to the country’s 1.3 billion population, the Ministry of Telecommunications has been undertaking several steps to ensure that connectivity is available even at the last mile. “As everything went digital, the pandemic made us realise the importance of digital connectivity and availability for all,” Mr Vaishnaw added.

He noted that the challenge of cyber security has become a global phenomenon and as a society, it is imperative to establish a synergy amongst the countries. In its preparedness to overcome the threats being posed by cyber security, India has been consistently working towards bringing in relevant technology and investment in the country.

Mr Ashwini Vaishnaw was in conversation with Mr Chandrajit Banerjee, Director General, CII, Dr Janmejaya Sinha, Chairman, CII National Committee on Financial Inclusion & Fintech and Chairman – India, The Boston Consulting Group India Private Limited and Mr Vinayak Chatterjee, Chairman, CII Mission on Trade, Infrastructure and Investments, India.

13 December 2021

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