 "Railways expansion plans to propel CMI growth")
With Railway Minister Suresh Prabhu announcing plans to double investment to Rs 1.2 lakh crore for FY17 in the rail budget 2016, CMI Ltd, a supplier of specialty cables to railways, is upbeat. “The focus on electrification, laying of fresh railway lines and upgradation of existing railway infrastructure presents huge opportunity for CMI as a company. Railways is already our largest customer and we have been strengthening our product portfolio of specialised cables catering to this sector. We believe that with this government committed to huge capex on railways, CMI will quadrapule its turnover in the next 3-5 years,” said Amit Jain, managing director, CMI Ltd.
According to Jain, the railway budget proves the pro-reform agenda of the Modi Government and is futuristic. “The emphasis on modernisation and providing customer delight is something that every Indian railway traveller has been dreaming about. The focus on infrastructure development and ensuring last mile connectivity across the length and breadth of the country augurs well for the Indian economy. The focus on funding by creating efficiencies in the railway system and not burdening the customer by increasing fares or freight rates is a laudable step by the Railway Minister,” he added.
According to Jain, the railway budget proves the pro-reform agenda of the Modi Government and is futuristic. “The emphasis on modernisation and providing customer delight is something that every Indian railway traveller has been dreaming about. The focus on infrastructure development and ensuring last mile connectivity across the length and breadth of the country augurs well for the Indian economy. The focus on funding by creating efficiencies in the railway system and not burdening the customer by increasing fares or freight rates is a laudable step by the Railway Minister,” he added.