India Railways issues fresh tender to push ‘Make in India’ scheme
Amid border tensions with China and coronavirus pandemic, Indian Railways has floated a new domestic tender for manufacturing 44 semi-high speed ‘Vande Bharat’ train sets in line with pushing government’s ‘Make in India’ agenda. According to reports, only India-registered companies will participate and the minimum local component percentage required is 75.
The move is meant to accelerate India’s initiative towards making a self-reliant economy and curb imports amidst rising tensions with the neighbouring country. Also, as per news reports, in August, the Railways had cancelled a global tender it had floated the month before. The decision was taken as CRRC Pioneer Electric, in which China’s CRRC is a joint partner, was among the six candidates that had submitted financial bids
As per the CRRC Pioneer Electric’s website, it is a joint venture of CRRC Yongji Electric Co. Ltd — a core subsidiary of the state-owned China Railway Construction Corporation — and India’s Pioneer Fil-Med Pvt ltd, set up in 2015.
Read more