Britain's railway industry is scouting for opportunities with Indian Railways and other domestic private players with an eye on marketing their products as well as exploring options for establishing facilities in the country.
Representatives of the Railway Industry Association - a trade association of about 140 UK firms which are active across the whole range of railway supplies - will meet with officials from the Railway Board in New Delhi on Thursday to discuss possible collaborations.
"Our meeting with the Railway Board will be a general discussion where we will talk about opportunities in both products and services. We realise that Indian Railways has a strong domestic base but there are efficiencies and technologies that we can bring here. Safety, for instance, is a very strong area for firms from the UK," Railway Industry Association's International Business Development Director Tim Gray said on the sidelines of a FICCI event.
Gray said that UK firms were open to either directly supplying products to end consumers in India or forming joint ventures with domestic companies.
In her Budget speech last week, Railway Minister Mamata Banerjee had implored the private sector to work in partnership with the Railways and had mooted the setting-up of a special task force for fast tracking investment proposals.
Consequently, the UK delegations' visit comes at a time when the Indian Railways is seemingly hungry for private participation.
Moreover, with UK's railway system expected to see substantial investments, including a £530 million project for improving rail travel in the north of England, India could provide a low-cost destination for production.
"Although the companies which are looking at India would initially focus on selling in this country, if opportunities are available, I am sure that suppliers in the UK would want cheaper, good quality products," Gray said.
