TMS Ep448: Railway safety, Modi-Biden agenda, markets, railway signalling

On June 4th, two days after a three-train crash resulted in 275 deaths and 1,175 injuries in Odisha’s Balasore district, the Ministry of Railways recommended an investigation by the Central Bureau of Investigation into the incident. A railways official also said that the Ministry of Home Affairs was already assisting the Railways in the probe and preliminary findings indicated a signalling error. While we wait for more answers, let us analyse how the Railways has performed when it comes to ensuring the safety of its passengers. How is it managing critical areas like signalling and maintenance? And which zones are lagging behind? 

Safety concerns of the Indian Railway need to be addressed urgently, especially at a time when the national transporter is seeing a significant adoption of technology. However, the railways are not the only sector in India that is set for a technological leap. As PM Narendra Modi prepares to leave for his first state visit to the US in 15 years, India is set to elevate its strategic technology partnership with the US in defence, energy and space. Among various agreements, all eyes will be on the GE Jet Engines pact. So, what are all on the agenda for Modi-Biden to meet? And what should we expect from this? 

Meanwhile, equity markets in India continue to face volatility as fears of a global slowdown have kept investors on the edge offsetting hopes of ease in the monetary tightening cycle. So, should investors play it safe and stick to defensive themes amid current uncertainty? 

On June 4, as the restoration efforts at the scene of the Balasore train accident were being evaluated, Railway Minister Ashwini Vaishnaw stated that the change in electronic interlocking was to blame for the tragedy. It resulted in the death of more than 275 passengers. Find out the crucial role that Electronic Interlocking Systems plays in railway safety in this episode of the podcast.