India and China are likely to sign an agreement to enhance cooperation in the railway sector during PM Na rendra Modi’s upcoming visit, The Economic Times reports.
While China is keen to expand its footprint in the Indian infrastructure sector, the government too is looking to leverage Chinese investment and technology to upgrade the country’s railway network. The PM has also been pushing for railway modernization for economic growth.
A top source in the railways said the Centre is giving final shape to Chinese investment plans in the rail sector. The government has also relaxed FDI norms to attract foreign investment in the sector -from high-speed rail projects to station upgrades.
China is currently conducting a feasibility study for the 1,754-km Delhi-Chennai high-speed corridor. The study is being car ried out by China Railway Siy ried out by China Railway Siyuan Survey and Design Group Co Ltd following an MoU signed with the High Speed Rail Corporation of India Ltd.
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