MoU between India and Germany approved by Union Cabinet
On March 25, 2020, the Union Cabinet chaired by PM Modi approved MoU signed between India and Germany. The MoU was signed between Ministry of Railways and DB Engineering and Consulting GMBH of Germany. The Memorandum was signed in February 2020 and will facilitate technological cooperation in Railway sector.
Key Highlights of the MoU
The technological cooperation under the MoU will facilitate freight operations including automotive transport, cross-border transport and logistics. It will also help in infrastructure building. This includes new dedicated freight corridors and building of new passenger trains.
The agreement will facilitate technology transfers in IT solutions for railway sales, marketing and operations.
The Ministry of Railways is in the mode of modernization of Railway sector. In order to achieve this, the Ministry has signed several agreements, memorandum of cooperation, technical cooperation, with foreign governments. Through these measures, the ministry aims to achieve high speed rails, increasing speed of existing routes, modernization of rail infrastructure and development of world class stations.
Category: India Nation & States Current Affairs