Business
400 Vande Bharat trains: Rs 40,000 Cr business opportunity and jobs

Rolling out 400 Vande Bharat Express trains is about Rs 40,000 crore of business coupled with jobs and other spin-off benefits, said senior officials –present and past — of Indian Railways
Presenting the Union Budget for 2022-23, Indian Finance Minister Nirmala Sitharaman said 400 new energy efficient Vande Bharat trains will be introduced in three years.
The Vande Bharat Express is a semi-high speed train designed, developed and built by the Integral Coach Factory (ICF) at a frugal outlay of Rs 100 crore.
The Indian Railways officials preferring anonymity told IANS that 400 Vande Bharat trains over the next three years is not just headline catching announcement. It is about Rs 40,000 crore business opportunity that would also create 15,000 jobs and several spin -off benefits.
Presently there are only two Vande Bharat trains that are running — Delhi to Varanasi and Delhi to Katra.
“The trains without a pair are running six days a week without a breakdown till date since they were pressed into service a couple of years back. Perhaps Vande Bharat Express is the first train that is run without a pair,” a senior official at ICF told IANS with pride.
It is one classic example of ‘Make in India’ and far cheaper than similar trains that are rolled out by foreign companies.
The train has only about 15 per cent import content which will further go down if production volumes increase, officials told IANS earlier.
An ICF official said the third prototype is getting delayed due to production bottlenecks and logistical challenges due to the Covid-19 pandemic.
However, how the government is going to achieve its target of 400 Vande Bharat Express trains over the next three years is the Rs 40,000 crore question.
While it is really an ambitious target, it can be achieved in a staggered manner with the government giving better clarity on its plans, officials said.
Indian Railway Minister Ashwini Vaishnaw said the upgraded Vande Bharat train is expected to be ready for tests in April and commercial production is expected to start in August/September, 2022.
“I would think that a more realistic target of say 100-150 trains in three years would have been better. This target itself would need very concerted and committed action by railway executives, particularly at ICF,” Sudhanshu Mani, retired General Manager, ICF and the Creator of Vande Bharat Express told IANS.
He said, commercial production and necessary testing of the upgraded train is expected to start only in September 2022 and hence the target should be realistic.
“Rolling out the trains in large numbers may not be an issue. But where are they going to be deployed? The routes also have to be finalised,” Mani added.
Continuing further Mani said ICF should start working on Vande Bharat trainsets, including the sleeper version (code named Train 19) and 300 units of aluminium body trainsets (code named Train 20).
“There can be a foreign partner for rolling out aluminium body trains. In 5/6 year’s time 400 trains can be there,” he remarked.
When pointed out that the train could be rolled out by other coach manufacturing facilities in the country Mani said: “Initially only ICF should roll out as they understand the technology and other aspects. Spreading out the production to other units will result in quality issues.”
Concurring with him, a senior official not wanting to be quoted told IANS: “Only ICF should make it. It needs special skill sets and trained people are not available in other units.”
Officials also said spreading out the manufacturing not only would result in quality issues, but the ultimate death of the train that is successfully running without a hitch six days a week for the past couple of years.
While ICF would initially roll out the trainsets, the other units can take care of the maintenance works and acquire the production knowhow.
The other question is the availability of the vendors. Unless the government gives a clear roadmap, vendors may not ramp up their production capacity, officials said.
“The supply chain will take time to gear up. They can supply only at a steady rate. Out of the 400 trains, during the first year only 20 trains can be rolled out and 380 trains in the remaining two years is not possible,” the official added.
Further vendors and ICF officials are reluctant to touch the Vande Bharat train project after the witch hunt in the form of vigilance enquiry that was conducted and concluded recently without finding any discrepancy.
According to officials, there needs to be long term contracts — say 60 trains for the next 10 years — only then vendors can set up production facilities.
“Tenders and procurement process should be done in such a way that vendors can participate without worry,” they added.
Business
15th Rozgar Mela: EPFO hands over job letters to 976 new recruits

New Delhi, April 26: The Employees’ Provident Fund Organisation (EPFO) on Saturday handed over appointment letters to 976 new recruits as part of the 15th edition of the Rozgar Mela.
The Rozgar Mela was held across 47 locations nationwide. The event, addressed by Prime Minister Narendra Modi via videoconferencing, saw the distribution of over 51,000 appointment letters to newly inducted youth in various government departments, including EPFO.
“As part of this significant recruitment drive, EPFO welcomes new recruits to strengthen its workforce, ensuring efficient delivery of social security services to millions of subscribers across India,” said the Labour Ministry.
Appointment letters to 345 Accounts Officers/Enforcement Officers and 631 Social Security Assistants were issued as part of the drive.
The newly-appointed personnel will contribute to EPFO’s mission of providing provident fund, pension, and insurance benefits, supporting the government’s vision of a robust and inclusive economy.
EPFO has established recruitment vertical in head office to ensure regular recruitments and developed a recruitment calendar complying with directions of Union Minister of Labour and Employment, Dr Mansukh Mandaviya.
“During last one year, EPFO has recruited 159 Assistant Provident Fund Commissioners, 84 Junior Translation Officers, 28 Stenographers, 2674 SSAs among others. Further recruitment of APFCs, EO/AO, PAs and ASOs are underway,” according to the ministry.
The Rozgar Mela aligns with the Prime Minister’s commitment to prioritizing employment generation and empowering youth for nation-building.
EPFO’s participation underscores its dedication to transparent and merit-based recruitment, leveraging modernized processes to enhance service delivery. The new recruits will have access to training through the iGOT Karmayogi platform, besides formal training enabling them to upskill and excel in their roles.
EPFO said it extends its congratulations to all appointees and reaffirms its resolve to foster a future-ready workforce that drives India’s social security framework towards greater heights.
Business
Steel backbone of our economy, coal and mines strong foundation: G Kishan Reddy

Mumbai, April 26: Steel serves as the backbone of India’s economic progress and a vital enabler of the national vision for ‘Viksit Bharat 2047’, Union Minister of Coal and Mines, G Kishan Reddy, said on Saturday.
Addressing the 6th edition of ‘Steel India 2025’ here, the minister highlighted how India is setting new global benchmarks in infrastructure development, from the Chenab Bridge in Jammu and Kashmir, the world’s highest railway bridge, to the historic Pamban Bridge in Tamil Nadu — all made possible by the growing strength of the steel sector.
Every milestone in the nation’s infrastructure journey, he remarked, is forged in steel — reflecting the momentum and aspirations of a Nation on the move.
Reddy further stated that India’s steel sector has grown at an impressive pace in recent years, positioning the country as the second-largest steel producer globally.
Citing the words of Prime Minister Narendra Modi, the minister referred to steel as India’s “Sunrise Sector” — a key driver of domestic consumption, industrial expansion and self-reliance through the Atmanirbhar Bharat Abhiyaan.
Reddy expressed confidence that through close collaboration between the Centre, state governments and industry stakeholders, India will not only meet its raw material requirements domestically but also emerge as a global leader in sustainable, self-reliant steel production.
He urged all participants at the conference to contribute actively to shaping policies that will secure a greener and more resilient future for the nation’s steel ecosystem.
The Union Minister emphasised that if steel forms the backbone of India’s economy, the coal and mining sector represents the strong foundation on which it rests.
He highlighted the importance of raw material security, especially in the context of the current session on Raw Material Strategy and the Shift in Raw Material Mix.
Ensuring the availability of critical raw materials like iron ore, coking coal, limestone, and essential alloying elements such as manganese, nickel, and chromium, he noted, is both an economic necessity and a strategic imperative.
India recently achieved a landmark milestone of 1 billion tonnes of coal production and dispatch in the last financial year — a transformative step toward national energy security.
While efforts to enhance renewable energy are underway, the minister reaffirmed that coal will remain central to India’s energy and industrial landscape in the foreseeable future.
Focusing on coking coal, a critical input in steel manufacturing, Reddy pointed out that it constitutes nearly 42 per cent of steel production costs. India currently imports around 85 per cent of its coking coal needs, rendering the industry vulnerable to international price volatility and supply chain disruptions.
The minister called upon private stakeholders to actively participate in washeries, beneficiation plants, and block auctions. Pulverised Coal Injection (PCI) trials using domestic coal have already shown promise for import substitution, and greater innovation in beneficiation can further improve outcomes.
The minister also emphasised the importance of timely utilisation of greenfield mines, as reiterated by the Prime Minister.
Business
Foreign investors make notable return to Indian equity markets in April

New Delhi, April 26: Foreign investors have made a notable return to Indian equity markets this month, emerging as net buyers over the past two weeks, analysts said on Saturday.
In just the last seven trading sessions, foreign portfolio investors (FPIs) have turned decisively positive on Indian equities. This shift is largely attributed to a weakening US dollar, revisit of tariff agreements and a renewed sense of optimism surrounding India’s economic trajectory.
“Amid a challenging global backdrop, marked by sluggish growth in major economies like the United States and China, India continues to stand out higher for its economic resilience,” said Manoj Purohit, Partner and Leader, FS Tax, Tax and Regulatory Services, BDO India.
India is forecast to grow at a robust rate of over 6 per cent in FY26 and remains the only fastest-growing economy, making it a compelling destination for global investors.
“FPI inflows are expected to remain strong in the near term, providing additional support to the ongoing market rally. As global investors reassess their strategies, India’s economic fundamentals and earnings potential position it as a beacon of stability and growth in a turbulent events happening globally,” Purohit explained.
This month (till April 24), FPIs purchased equities worth Rs 22,716.43 crore while they sold equities worth Rs 17,196.33 crore, with net investment of Rs 5,520.1 crore.
Last month, FPIs ramped up buying in the second half of March 2025, driving a recovery in select sectors. BFSI led the inflows with a turnaround from $380 million selling to $2,055 million buying, netting $1,675 million for the month.
Telecommunications and metals and Mining also saw net inflows of $360 million and $219 million, respectively, according to a recent note by Bajaj Broking. Overall, FPI interest remained focused on BFSI, with most other sectors facing continued selling pressure.
With a strong economic outlook, policy reforms and a resilient market, India remains an attractive destination for global capital. The government’s continued focus on infrastructure, digital growth, and ease of doing business further boosts investor confidence.
The recent move by RBI to keep the existing corporate bond and G-sec limits unchanged for foreign portfolio investors (FPIs) is a testimony of the government’s intent to keep gateway open for offshore participants to continue infusing funds in India market.
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