India Locomotive Market

the locomotive market in india is projected to experience steady growth over the next two decades, due to the rapid expansion of india's railway network. additional government investment in both infrastructure and modern technology will also help drive the growth of the locomotive market in this period. the indian government has ambitious plans to almost double the country’s freight and passenger capacities with the expansion of its railway network. this requires massive amounts of modernized and energy efficient locomotives for the transportation of goods and passengers over the existing railway infrastructure. the indian government has already pledged rs 8.5 lakh crore for the expansion and modernization of the rail network over the next five years. therefore, there is an increasing demand for freight and passenger locomotives in the immediate future. unlike other sectors of the economy, locomotives are highly customized and require advanced technologies and technical expertise to manufacture. this means that the majority of locomotives used in the indian market must be produced domestically. to facilitate this, the indian government has implemented various import substitution policies and focused heavily on the development of the local locomotive industry. the most popular solution in the indian market in the short to mid-term is the collaborative manufacturing strategy, whereby a major foreign company teams up with a local manufacturer to design and produce the requisite locomotives. instead of relying on imported components, the indian government has emphasized the use of indian-made components. this is expected to reduce cost and lead time, while also helping the local economy to benefit from foreign technologies and know-how. in conclusion, the outlook for indian locomotive market appears bright, with the government’s ambitious plans to expand and modernize the railway network resulting in an increased demand for modern locomotives. this will also open-up opportunities for local design and fabrication companies, with the collaborative manufacturing model aiding the performance of the locomotive industry in the near future.