India wants to increase the export of railway engines, locomotives and coaches by at least 25 times within the next three years. Such a target has been set by RITES Ltd., an engineering consultancy firm of Indian Railways. This information is known from the report of the Indian media Financial Express.
Rahul Mittal, chairman and managing director of RITES Limited, said that the ratio of railway locomotive and coach exports to total revenue is now below 1 per cent. But in the next three years we want to raise it to 20 to 25 percent and sustain it at that level.
Rahul Mittal also said, 'In the last 9-10 months, we have received orders worth Rs 1,300 crore (most of which will be exported). This is significantly higher than the trend of the last four-five years. As most of these orders are related to locomotives and coaches, the revenue targets for this sector from the next financial year will reflect our view.'
The Chairman of RITES Limited said that the main focus of Navratna PSU, a state-owned enterprise of India, is now about 12 African countries; For example, South Africa, Zimbabwe and Mozambique. Besides, Navratna also wants to leave footprints in Bangladesh and South America. He further said, 'We are operating in an evolving business environment and I think we will focus on exporting rolling stock as well as various railway related products in the near future.'
Meanwhile, India's rail coach and locomotive exports fell slightly in the first quarter of fiscal 2025. In this regard, Mittal said, “Despite the deterioration in the first quarter, we want to maintain the same growth as the 2024 financial year in the rest of this year. At this time, he said, this deterioration has occurred due to a slight deficit in their consulting business.
Overall, RITES revenue fell by 8.6 percent in the first quarter of FY2025 to Rs 1,700 crore. In this regard, Rahul Mittal said, 'The reason for the collapse is the massive decline in the quality assurance business. However, we have received new advisory buy orders and as a result, our profits will start flowing from FY 2026 onwards. We will see a big jump by this time next year.'
