By Kaushal Verma
New Delhi [India], October 13 : Indian railway equipment manufacturers are expecting that the country is likely to capture around 7-8 per cent of the world's total market of USD 360 billion estimated in the financial year 2025-26 (April-March).
"The domestic market of Indian railway equipment manufacturing industry is around 2.5 lakh crore in railway equipment sector in the financial year," Puneet Kaura, Managing Director, Samtel Avionics Limited toldon the sidelines of International Railway Equipment Exhibition 2025.
The International Railway Equipment Exhibition 2025, organized by CI in collaboration with Indian Railways, is Asia's largest and the world's second-largest exhibition, to be held from October 15 to October 17.
India is expected to capture a larger share in the coming years in the world market due to its growing modernization efforts and significant role in the global supply, Narayan Sethuramon, Managing Director, Sanmar Matrix Metals Ltd, told ANI.
"The global demand is USD 360 billion dollar annually and is growing with a 6 per cent CAGR market," Sethuramon said.
Indian manufacturers are increasingly becoming global exporters, supplying rolling stock and safety products to several countries.
"We are present in 13 countries and supplying to more than 20 railway projects in Canada, Germany, US, Austria, Australia, South Africa, Kazakhstan, Poland. It's a global mix," Sethuramon said.
There is an interest in electronics product in domestic and global markets specially in rolling stock market. India is emerging as a good supplier for the global buyers. The global demand is expected to increase in the coming days, Kaura said.
India will remain a significant player of global supply chain for many years to come, he added.
"We supply export rolling stock product and we exported more 60,000 steel castings which are used for boggie manufacturing to different projects," Sethuramon said.
The manufacturers see tremendous opportunity for all the indian Industry.
"Both demand from local indian railways, Vande Bharat trains can keep us super busy. On top of that, the real opportunity is to design, manufacture and supply from India to the world," he said.
Talking about the exports of railway coaches to the world, Sethuramon said, "So far about 1000 coaches have been exported to Canada and Australia, and the exports are going to rapidly increase in the years to come."
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