Railways reverse auction to save Rs.200 bn annually

Railway Ministry has advocated implementation of electronic reverse auction (ERA) for all high value procurements, which will result in a 10 per cent saving in costs and a total saving of up to Rs 200 bn in procurement. <br /> <br /> This fresh initiative is expected to secure substantial savings for the sector. Currently, the Indian Railways has an annual total capex of Rs 1,500 bn. Additionally, the Railways procures goods worth Rs 500 bn.<br /> <br /> Contact: Indian Railways.<br /> <br /> Website: www.indianrail.gov.in<br />