Indian auto industry welcomes 2014 railway budget

President SIAM, Vikram Kirloskar today welcomed Railway Budget announcements by Rail Minister Mr. D.V. Sadananda Gowda viewing them as onward looking and progressive.

Indian RailwaysWhile the finer points are yet to be dissected, today’s announcements incorporate recommendations SIAM has been making to the Railway Board these last 3-4 years.

Mr. Kirloskar agreed the auto industry is happy that SIAM’s recommendations have found inclusion in the current Budget speech. These include enhanced port connectivity, automatic rebate for return load, and setting up of private freight terminals and Logistics parks under PPP mode.

Indian RailwaysAlongside, the possibility of online bookings of wagons helps the automobile industry in bettering its usage of railways for transportation in a more efficient manner to reduce overall operational cost.

Forward looking initiatives include Bullet Trains and FDI in Railways, which paves the way for India to modernize its ailing and aged rail transport system.