New Delhi: The implementation of the Vendor Development Program announced by the Indian Railways recently, with an investment amounting to Rs 4.14 lakh crores is likely to help the Small and Medium Enterprises (SMEs) in growth.
More On The Vendor Development Programme:
Prabhu said in a Press Meet that two companies GE and Alstom will be manufacturing diesel and electric locomotives for the Indian Railways. This would result in fresh business for the Indian Small and Medium Enterprises (SMEs).
Since the procurement is to be done from local suppliers, the International companies will bring in more business for domestic SMEs that provide material to these companies.
He asserted that his Ministry is committed to go beyond theoretical claims of working for the benefit of the Indian companies and actually do something substantive.
He also informed that the Railway further intends to invest over 40,000 crore in short term towards locomotive development in the country, business for SMEs can also be expected once the investment is executed.