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IBEF Presentataion RAILWAYS For updated information, please visit www.ibef.org July 2019 Table of Content Executive Summary……………….….…….3 Advantage India…………………..….……..4 Market Overview …………………….……..6 Recent Trends and Strategies...…..……..15 Growth Drivers and Opportunities………..19 Industry Associations………………………34 Useful Information………….…....……...…36 EXECUTIVE SUMMARY . Indian Railways has 12,617 passenger trains carrying over 23 million passengers daily. World’s 3rd largest rail network . On the commercial front, freight traffic of Indian Railways increased to 1,221.39 million tonnes in FY19. As of May 2019, Freight traffic in FY20 (provisional) increased 3.04 per cent year-on-year to 205.43 million tonnes . Private sector companies are being encouraged to participate in rail projects, which were largely in the public domain. The Cabinet approved ‘participative models for rail-connectivity and capacity augmented projects’, which allows private Growing public-private ownership of some railway lines partnership . Launch of Foreign Rail Technology Cooperation Scheme along with revamping of PPP for better results . The Delhi-Lucknow Tejas Express becomes the first train to be operated by private players. India to build its first railway station inside tunnel at a height of 3,000 meters and length of 27 km on Bilaspur-Manali-Leh line in Himachal Pradesh. Under the Union Budget 2019-20, the Government of India allocated Ministry of Railways Rs 94,071 crore (US$ 14.11 Growth initiatives billion). Indian Railways is targeting to triple freight traffic from current 1.1 billion tonnes* in 2017 to 3.3 billion tonnes by 2030. Indian Railways has planned completion of electrification in next 4-5 years, which will lead to energy savings worth Rs 10,000 crore (US$ 1.55 billion). In July 2019, longest electrified tunnel built between Cherlopalli and Rapuru stations. India Railways as undertaken modernisation of railway stations under the Adarsh station scheme. Out of the total 1,253 railway stations identified under the scheme, over 1,050 railway stations have already been modernised. Various technologies such as electronic interlocking at all interlocked Broad Gauge stations, Automatic Train Modernisation/ Protection(ATP) system have been introduced by Indian Railways. Technology upgradation . All electric locomotives have been provided with Vigilance Control Devices(VCD) which helps in checking the alertness of Loco Pilots(LPs) . The government has decided to manufacture only Linke Hoffman Bushce (LHB) type coaches from 2018-19 onwards Note: *Approximate Source: Make in India, Indian Railways, News Articles 3 Railways For updated information, please visit www.ibef.org Railways ADVANTAGE INDIA ADVANTAGE INDIA . Increasing urbanisation and rising incomes (both urban and . Freight traffic is set to increase rural) are driving growth in the passenger segment significantly due to rising investments and private sector participation . Growing industrialisation across the country has increased freight traffic over the last decade . Metro rail projects are being envisaged across many cities over the next ten . India is projected to account for 40 per cent of the years total global share of rail activity by 2050 ADVANTAGE INDIA . FDI Inflows in railway related components from April 2000 to March 2019 stood at . The government has increased the US$ 969.28 million. scope of PPP beyond providing maintenance and other such . Railway infrastructure investments are supporting roles. PPP is being utilised expected to increase from US$ 58.96 in areas such as redevelopment of billion in 2013-17RE to US$ 124.13 billion stations, building private freight in 2018-22E.^ terminals and private container train . As per Union Budget, it is estimated that operations. Railway Infrastructure would need an . Government has allowed 100 per cent investment of Rs 50 lakh crores (US$ 715 FDI in the railway sector billion) between 2018-30. Note: FDI - Foreign Direct Investment, ^As per CRISIL Infrastructure Yearbook 2017, RE – Revised Estimates, E - Estimate Source: Railway Budget 2014-15, Press Information Bureau, Department for Promotion of Industry and Internal Trade in source; TechSci Research , The Future of Rail Opportunities for energy report by International Energy Agency 5 Railways For updated information, please visit www.ibef.org Railways MARKET OVERVIEW INDIAN RAILWAYS HAS TWO MAJOR SEGMENTS . Indian Railways (IR) is: • A departmental undertaking of the Government of India (GOI), which owns and operates most of India's rail transport • Overseen by the Ministry of Railways . As of 2016-17, IR has a total route network of about 67,368 kms. It operates more than 22,300 trains daily . It has 0.278 million wagons, 69,322 coaches and 11,461 locomotives . Over 23 million passengers travel by trains daily in India. The passenger traffic Passenger stood at 8,286.95 million in FY18 and is expected to increase to 15.18 billion by FY20 Railways . Around 1,159.57 million tonnes of freight was transported via trains in FY18 and 2,165 million tonnes is expected in FY20 Freight . These include a huge variety of goods such as mineral ores, iron, steel, fertilisers, petrochemicals and agricultural produce Source: Ministry of Railways, Make In India, Railway Budget FY16-17, Indian Railways Statistical Publications 2016-17, TechSci Research 7 Railways For updated information, please visit www.ibef.org STRONG REVENUE GROWTH FOR INDIAN RAILWAYS . Revenue growth has been strong over the years. Indian Railways’ Gross revenue trends over the years (US$ billion) (up to May revenues increased at a CAGR of 6.20 per cent during FY08-FY19 2019) and reach to US$ 27.13 billion in FY19. The gross revenue stood at Rs 29527.77 crore (US$ 4.22 billion) in FY20P (up to May 2019). 30.00 CAGR 6.20% . Revenues from the sector are estimated to reach to US$ 44.5 billion by the end of FY20 25.00 27.71 . Indian Railways has undertaken various measures to boost revenues 25.69 25.02 including: 24.64 23.11 • Passenger Earnings - introduction of new trains, operation of 20.00 22.76 21.72 special trains during peak seasons, running premium special 20.74 trains with dynamic pricing 18.82 18.32 15.00 17.79 • Freight Earnings – reduction in distance of mini rakes, withdrawal of port congestion charge, rationalisation of Merry-go-Round policy 14.30 10.00 • Parcel Earnings – leasing parcel space to private parties, liberalisation of parcel policy 5.00 • Other Earnings – adoption of bulk advertising rights, vinyl wrapping of trains, right of way charges 4.22 0.00 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20P Note: CAGR – Compound Annual Growth Rate, E – Estimates, P-Provisional, FY – Indian Financial Year (April–March), Exchange Rates are averages of the year Source: Ministry of Railways, TechSci Research 8 Railways For updated information, please visit www.ibef.org SEGMENT-WISE REVENUE GROWTH FOR INDIAN RAILWAYS Passenger earnings (in US$ billion) (up to May 2019) Earnings from freight (in US$ billion) (up to May 2019) 8.00 ^CAGR 6.43% 20.00 ^CAGR 4.03% 7.00 18.00 7.55 16.00 18.20 6.00 18.16 6.90 6.90 6.76 14.00 17.30 16.68 6.04 15.66 5.00 15.55 15.52 5.89 5.75 12.00 5.66 14.50 13.79 4.95 10.00 4.00 4.93 4.78 12.34 11.79 8.00 11.64 3.00 3.80 6.00 2.00 2.77 1.26 4.00 1.00 2.00 0.00 0.00 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20P FY20P . Revenues from the passenger segment of Indian Railways have increased at a CAGR of 6.43 per cent to US$ 7.55 billion in FY19 from US$ 3.80 billion in FY08. Passenger earnings of Indian Railways is estimated at Rs 8808.95 crore (US$ 1.26 billion) in FY20 (up to May 2019). Freight earnings of Indian Railways have grown at a CAGR of 4.03 per cent to US$ 18.20 billion in FY19 from US$ 11.79 billion in FY08. Freight earnings in FY20 up to May 2019). stood at Rs 19364.16 crore (US$ 2.77 billion). Increasing carrying capacity, cost effectiveness, improving quality of service will support the increment in the share of Railway in the freight movement from 35 per cent to 50 per cent by 2020 . With eight metro rail networks spread over a length of 370 kilometres (km) and over two dozen metro projects lined up, India’s metro rail network is expanding at a fast pace. Notes: CAGR – Compound Annual Growth Rate, FY–Financial Year, Exchange Rates used are averages of the year, P – Provisional Source: Ministry of Railways, TechSci Research 9 Railways For updated information, please visit www.ibef.org FREIGHT ACCOUNTS FOR MORE THAN TWO-THIRDS OF RAILWAY’S REVENUES . Freight business for Indian Railway is supported by 9 commodities: RevenueVisakhapatnam break-up by segmentport traffic (FY20)(million (up tonnes) to April 2019) coal, iron, steel, iron ore, food grains, fertilizers, petroleum products etc . Freight remains the major revenue earning segment for the 3.66% Railways, accounting for 66.21 per cent of total revenues in FY20 2.36% (up to April 2019), followed by the passenger segment . Profits from the freight segment are used to cross-subsidise the passenger segment Freight . The first phase of the Dedicated Freight Corridors project is 26.90% Passenger commenced operations in November 2018. Initially, two stretches of 432 km and 343 km will become operational on the western and eastern corridor, respectively. Other coaching 67.09% Sundry Note: Other Coaching includes service coaches such as pantry cars, parcel vans, mail vans, etc, * - Provisional Source: Railway Budget 2015-16, Railway Budget 2016-17 Ministry of Railways, TechSci Research 10 Railways For updated information, please visit www.ibef.org PASSENGER VOLUMES WITNESS HEALTHY GROWTH .
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