TMH’s CEO Kirill Lipa recently shared with a group of Indian journalists at the company’s headquarters in Moscow that the current interest rates in India are quite different from those in other countries. This is why they are eager to invest in India and are fully prepared to do so. Plans are underway to run a bullet train between Mumbai and Ahmedabad, based on Japan’s bullet train technology. Until now, you might have thought that metro and bullet train coaches were imported from other countries. However, that is about to change. Soon, we will see trains made in India running smoothly in Russia. To achieve this, Russia is planning to invest in manufacturing trains and their components in India to meet its domestic needs. A senior official from the railway ministry provided this information in a conversation with the Times of India. Last week, the head of Russian Railways, TMH, expressed interest in this project. In response to a question about Russian investment in India’s railway sector, the official mentioned that Russia has significant domestic needs and wants to establish manufacturing facilities in India to meet those needs.Kirill Lipa emphasized that the interest rates in India are very different from those in other countries, which is why they are keen to invest here. They aim to develop several facilities in India, believing that some of these could also supply the Russian market. Lipa also noted that Russia currently has several supply contracts with India. He stated, “We have good relationships with our suppliers in India. This means we can increase the import of trains from India to Russia.” TMH is a major stakeholder in Kinet Railway Solutions, which has signed a contract worth about 55,000 crores with Indian Railways. This contract includes the production of 1,920 Vande Bharat sleeper coaches and their maintenance for 35 years. Lipa clarified that they are not looking to source supplies from Russia for the Vande Bharat project.
What Are the Benefits?
He mentioned that they have found some suppliers in India and other countries who are interested in working to strengthen the relationship between India and Russia. He confidently stated that the current sanctions would not affect the project in any way. Manufacturing trains in Russia will boost foreign investment in India, leading to more job opportunities and increased employment for the youth.
