India’s Ministry of Road Transport and Highways has signed an MoU with Transport For London (TFL) to draw on the lessons from London’s strong public transport system, where over 1.3 billion journeys take place every year.
As per reports, the agreement will involve sharing expertise on mobility and efficiency of the transportation system, as well as around logistical issues such as planning and delivery. Further, it will also cover TFL’s experience in ticketing, providing information, financing, infrastructure maintenance work, as well as promotion of the use of public transport. Additionally, other areas of co-operation in the future are likely to include innovation around buses, including electric buses, and the use of water transport in urban centres.
Minister of Road Transport and Highways and Shipping Nitin Gadkari also launched the NHAI’s (National Highways Authority of India) first masala bond on the London Stock Exchange, through which they hope to raise up to Rs 5,000 crore (the RBI limit) to help fund investment in key transport infrastructure.