RITES Signs Pact to Supply Coaches to Bangladesh

May 21, 2024

RITES Limited, a government-owned company and the exporting part of Indian Railways, was recently awarded a large contract to provide Bangladesh Railways with 200 broad-gauge passenger carriages. The European Investment Bank paid for the deal, which was worth USD 111.26 million (about Rs 915 crore). It was won in a global buying process.

Contract Details

RITES and Bangladesh Railways have a deal that includes more than just selling carriages. It also includes helping with design, providing spare parts, and training. The contract sets out 36 months for delivery and commissioning, followed by a 24-month warranty term.

Strategic Importance

This deal is an important part of RITES’s plan to export world-class railway rolling stock that was made in India. It fits with India’s “Make in India, for the World” campaign, which wants to make India a centre for production around the world. This deal also shows that RITES is still involved in improving Bangladesh’s train infrastructure. They have provided different types of rolling stock and worked together on several projects in the past.

More About RITES Limited

RITES Limited, a Government of India Enterprise, was established in 1974 under the aegis of Indian Railways.
It specializes in transport consultancy and engineering sector projects.
Key areas include urban and regional planning, infrastructure, the design of highways, airports, seaports, and mass transit systems.
It is internationally recognized with projects in 55 countries, notably in Asia, Africa, Latin America, and the Middle East.
RITES is involved in leasing and exporting railway equipment.
It provides consultancy services for the operation and maintenance of transportation facilities.
RITES is listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE).
The company actively promotes sustainable development.

Facts about the Make in India Initiative

The ‘Make in India’ program, which began in 2014, aims to increase manufacturing by making business processes easier.
The lion logo symbolizes strength.
It targets 25 sectors including automobiles and aviation.
India moved up from 142nd in 2014 to 63rd in the World Bank’s 2020 Ease of Doing Business list thanks to the program.
It has gotten a lot of money from investors around the world, including Samsung and Foxconn.
The defence industry became much more open to private companies because of “Make in India,” and the foreign direct investment limit in defence was raised to 74%.

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