Govt introduces innovation strategy for tech evolution in Railways
RAILWAYS & METRO RAIL

Govt introduces innovation strategy for tech evolution in Railways

The Central government introduced an innovation strategy to bring technical improvements to the Indian Railroads. The policy would engage innovators, startups, and entrepreneurs to collaborate with the railways.

A railway official told the media that this is the first time the Indian Railways has come up with such a strategy to provide fresh inventive ideas that would help it progress technologically.

The official said that they obtained all the essential crucial inputs from various sources. This programme would help in reducing outmoded and time-consuming procedures, including the recruitment of fresh minds for the railroads and the country as a whole.

The policy statement establishes a comprehensive framework for the ministry of railways' involvement with innovators for the development of technology, goods, and need-based solutions for railways.

According to media sources, the entire process of selecting innovative partners will be carried out online in an open, fair, and transparent way through a dedicated portal, which is likely to be operational by April-end.

The policy creates an enabling environment for Indian innovators, startups, entrepreneurs, micro, small, and medium-sized enterprises (MSMEs), research and development (R&D) institutions, and technology developers to collaborate with Indian Railways on the development of innovative technological solutions.

As per the policy, entrepreneurs and innovators would be granted financial assistance in the form of project awards.

The official said that the railways would be responsible for half of the project's overall cost. It will provide a significant boost to new business owners. Once accepted, the inventor will have a good chance of getting other contracts.

Image Source

Also read: Indian Railways board approves 76 lifts at major ECR stations

The Central government introduced an innovation strategy to bring technical improvements to the Indian Railroads. The policy would engage innovators, startups, and entrepreneurs to collaborate with the railways. A railway official told the media that this is the first time the Indian Railways has come up with such a strategy to provide fresh inventive ideas that would help it progress technologically. The official said that they obtained all the essential crucial inputs from various sources. This programme would help in reducing outmoded and time-consuming procedures, including the recruitment of fresh minds for the railroads and the country as a whole. The policy statement establishes a comprehensive framework for the ministry of railways' involvement with innovators for the development of technology, goods, and need-based solutions for railways. According to media sources, the entire process of selecting innovative partners will be carried out online in an open, fair, and transparent way through a dedicated portal, which is likely to be operational by April-end. The policy creates an enabling environment for Indian innovators, startups, entrepreneurs, micro, small, and medium-sized enterprises (MSMEs), research and development (R&D) institutions, and technology developers to collaborate with Indian Railways on the development of innovative technological solutions. As per the policy, entrepreneurs and innovators would be granted financial assistance in the form of project awards. The official said that the railways would be responsible for half of the project's overall cost. It will provide a significant boost to new business owners. Once accepted, the inventor will have a good chance of getting other contracts. Image Source Also read: Indian Railways board approves 76 lifts at major ECR stations

Next Story
Infrastructure Urban

3i Infotech Reports Rs 7.25 Bn Revenue for FY25

3i Infotech, a leading provider of digital transformation, technology services and technology solutions, announced its consolidated financial results for the fourth quarter and full year FY25, ended on March 31st, 2025. The company maintained its growth momentum, displaying consistent progress for the 3rd consecutive quarter.In Q4 FY25, 3i Infotech reported revenue of Rs 1.87 billion, reflecting steady performance compared to Rs 1.81 billion in Q3 FY25 and Rs 1.97 billion in Q4 FY24. The company delivered strong profitability improvements, with gross margin growing by 14.8 per cent Q-o-Q and 1..

Next Story
Infrastructure Urban

Emerald Finance Joins Baya PTE to Boost SME Bill Discounting

Emerald Finance is a dynamic company offering a spectrum of financial products and services including its flagship Earned Wage Access (EWA) in India, has entered into a strategic partnership with Singapore-based Baya PTE through its Indian subsidiary. This collaboration aims to strengthen bill discounting services for Small and Medium Enterprises (SMEs), enabling faster access to working capital and improved cash flow management.The initiative is designed to support SMEs that supply to large corporates such as JSW Steel, Delhivery, and PVR INOX, among others. By facilitating timely invoice dis..

Next Story
Infrastructure Urban

BLS E-Services Crosses Rs 5 Bn Revenue Mark in FY25

BLS E-Services, a technology-enabled digital service provider, announced its audited consolidated financial results for the quarter and full year period ended 31 March 2025.Speaking about the performance and recent updates, Shikhar Aggarwal, Chairman, BLS E- Services said, “We are delighted to report a remarkable performance in FY25, as we achieved several milestones during the fiscal year. FY25 marked our highest-ever financial performance, as we surpassed Rs 5 billion milestone in Total Income during the year, which was reported at Rs 5.45 billion, a notable YoY growth of 76 per cent. The ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?