MILIND NIRMAL

CURATING INNOVATIVE & SUSTAINABLE SOLUTIONS THAT SHAPE THE FUTURE OF MOBILITY

In 2022, the global Rail Infrastructure market was valued at $47 billion and is estimated to grow at a 3.4 percent CAGR to reach $61.4 billion by 2026. Rail infrastructure is a crucial driver of social and economic development that generates opportunities across society, including less advantaged sections of society. Railways boost economic growth and have a significant impact on society and the environment. The railway sector aims to contribute about 1.5 percent to the country’s GDP by building infrastructure to support 45 percent of the modal freight share of the economy. This sector has seen substantial developments, investments, and support from the Government in the recent past. With increasing participation expected from private players, both domestic and foreign, due to favourable policy measures, both passenger and freight traffic is expected to grow rapidly over the medium to long term. Rail infrastructure provides connectivity to markets and communities and brings the two closer together. Currently the rail infrastructure market is trying to adapt to the latest technologies and with a high push towards digitalization in operations and maintenance of railways. A rapidly growing population has led to a demand for mobility services and infrastructure and the railway industry is uniquely poised to meet both local and intraregional and also international travel demands. Additionally, rail transport is increasingly moving towards greener technology and environmental sustainability and is seen as being far more climate friendly than current road-based transport solutions.