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Anticipation is steadily building for the Union Budget of 2024, which President Murmu has hinted could be “historic”. Stakeholders are optimistic about policies aimed at enhancing domestic production and fostering economic growth. Consumers, on the other hand, eagerly await the potential benefits coming their way—including ones from the upcoming <keyword id="12026484" type="General" weightage="100" keywordseo="Railway-budget" source="Orion">Railway budget</keyword>. According to reports thus far, the Union Budget of 2024 is expected to place a significant emphasis on the Railway industry—one of the three cores of the Indian economy. This time, there is a strong expectation that the Railway budget will address various consumer-centric issues, including travel safety and overall experience quality. As Finance Minister Nirmala Sitharaman prepares to present the Union Budget on July 23, here are some key expectations for the Railway industry: <cmsannotation type="cmsannotation" annotationid="Highest-ever allocation for Indian Railways budget" comment="subhead" text="Highest-ever allocation for Indian Railways budget">Highest-ever allocation for <keyword id="6355455" type="General" weightage="20" keywordseo="Indian-Railways" source="Orion">Indian Railways</keyword> budget</cmsannotation> <keyword id="15478236" type="General" weightage="20" keywordseo="budget-2024" source="Orion">Budget 2024</keyword> is anticipated to heavily focus on several aspects of the railway sector. In the interim budget of 2024, the <keyword id="19905911" type="General" weightage="20" keywordseo="Ministry-of-Railways" source="keywords" meta.keywordsubtype="org" meta.entityname="Ministry of Railways" meta.hostid="261" meta.entityid="Ministry of Railways">Ministry of Railways</keyword> was allocated Rs 2.55 lakh crore for the fiscal year 2024-25. However, the upcoming budget is expected to increase this allocation significantly, ET NOW reports. It could potentially reach Rs 3 lakh crore, marking the highest-ever allocation for this sector. <cmsannotation type="cmsannotation" annotationid="Increased focus on passenger safety and capacity" comment="subhead" text="Increased focus on passenger safety and capacity">Increased focus on passenger safety and capacity</cmsannotation> During the Lok Sabha elections, the <keyword id="6360676" type="General" weightage="20" keywordseo="railways" source="Orion">railways</keyword> ministry faced significant criticism for various safety incidents and overcrowding in general coaches. To address these issues, the ministry is expected to allocate substantial funds to prevent operational mishaps, expand rail capacity and reduce congestion, the Business Standard reports. The government is expected to focus on the implementation of Kavach, an indigenously developed Automatic Train Protection System. Experts welcome the government’s emphasis on safety upgrades, particularly the network-wide implementation of train protection systems and the mechanisation of maintenance operations. <cmsannotation type="cmsannotation" annotationid="Enhancing passenger travel experience and quality" comment="subhead" text="Enhancing passenger travel experience and quality">Enhancing passenger travel experience and quality</cmsannotation> The budget is also anticipated to focus on improving facilities for passengers, modernising amenities and enhancing the overall quality of railway travel, as per Goodreturns. Capital expenditure will likely be directed towards upgrading coaches, with an initial plan to upgrade 40,000 bogies, and improving sanitation facilities. Passenger comfort and safety will continue to be priorities as the public increasingly values comfort over cost. <cmsannotation type="cmsannotation" annotationid="Possible reinstatement of Senior Citizen Railway Concession" comment="subhead" text="Possible reinstatement of Senior Citizen Railway Concession">Possible reinstatement of <keyword id="22455972" type="General" weightage="20" keywordseo="Senior-Citizen-Railway-Concession" source="keywords">Senior Citizen Railway Concession</keyword></cmsannotation> There is growing anticipation about the potential reinstatement of the Senior Citizen Railway Concession during Budget 2024, according to Business Today. This move is seen as particularly significant ahead of the upcoming general elections later this year. In March 2020, the Indian Railways discontinued discounts on train fares for senior citizens and women, requiring them to pay full fares like other passengers. Previously, the Senior Citizen Railway Concession was available for all classes of mail and express trains. Reports and RTI inquiries have revealed that the withdrawal of these concessions led to significant additional revenue for the Railways. During the suspension period, the Indian Railways accrued Rs 5,062 crore from eight crore senior citizens, with Rs 2,242 crore resulting from the absence of concessions. <cmsannotation type="cmsannotation" annotationid="Prioritising infrastructure spending" comment="subhead" text="Prioritising infrastructure spending">Prioritising infrastructure spending</cmsannotation> The <keyword id="19935166" type="General" weightage="20" keywordseo="Union-Budget-2024" source="keywords">Union Budget 2024</keyword> is expected to prioritise infrastructure spending, the Goodreturns report adds. The focus is likely to be on rapid development and completion of tracks, rolling stock manufacturing and delivery of passenger freight services. Capital funds are likely to be allocated for expanding the metro network, NaMo Bharat corridors, Vande Bharat trains, high-speed corridors and economic corridors. Plans also include developing a high-speed rail network like the Mumbai-Ahmedabad route and allocating funds towards the Rapid Rail Transport System.

Union Budget 2024 for Railways: Expectations focused on improving passenger safety, experience, infrastructure

On the second day of offer, the IPO (initial public offer) of <keyword id="21031841" type="General" weightage="20" keywordseo="Shapoorji-Pallonji-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Shapoorji Pallonji Group" meta.hostid="261" meta.entityid="Shapoorji Pallonji Group">Shapoorji Pallonji Group</keyword>'s flagship <keyword id="21118098" type="General" weightage="20" keywordseo="construction-company" source="keywords">construction company</keyword>, <keyword id="23715057" type="General" weightage="20" keywordseo="Afcons-Infrastructure-Limited" source="keywords" meta.keywordsubtype="org" meta.entityname="Afcons Infrastructure Limited" meta.hostid="261" meta.entityid="Afcons Infrastructure Limited">Afcons Infrastructure Limited</keyword>, was subscribed to around 0.28 times. As of 1 pm today, investors had bid for only 1,71,49,632 shares as against the 6,13,13,722 shares on offer. The Rs 5,430 crore worth of IPO, which includes a fresh issue of Rs 1,250 crore and an OFS (offer for sale) worth Rs 4,180 crore, closes for subscription tomorrow. The company is set to list on BSE and NSE next month, on November 4, 2024. With a price band of Rs 440 to Rs 463 per share, the company's last traded GMP (<keyword id="19905703" type="General" weightage="20" keywordseo="grey-market-premium" source="keywords">grey market premium</keyword>) stood at Rs 23. This means that the investors are expecting the stock to list at around Rs 486 (upper end of price band, i.e., Rs 463+ GMP of Rs 23), which will translate into a potential listing gain of around 4.97% per share. Globally, Afcons has undertaken multiple "first of its kind" <keyword id="19936648" type="General" weightage="20" keywordseo="infrastructure-projects" source="keywords">infrastructure projects</keyword>, like building Zambia's first flyovers and Ghana's largest rail project. Additionally, the company, which was incorporated in 1969, has a legacy of around 60 years. Some of their prominent projects in India include: <ul><li>Chenab Bridge in Jammu and Kashmir, which was completed in 2023. It is the tallest single-arch railway bridge in the world.</li><li>The Atal Tunnel in Himachal Pradesh, the world's longest highway tunnel constructed 3,000 meters above sea level, was completed in 2020.</li><li>Kolkata Metro, a part of which will be underwater, and will also include India's deepest metro station at Howrah.</li><li>Afcons is also working on constructing a 21-kilometer-long tunnel for Mumbai-Ahmedabad High Speed Railway, which will comprise a 7-kilometer-long underseas rail tunnel, a first in India.</li></ul> <h2>Steady Financials</h2> The company has a sturdy order book, standing at Rs 31,747.43 crore as of June 30, 2024. Its revenue from operations also surged from Rs 12,637.38 crore in FY23 to Rs 13,267.50 crore in FY24. On an average, around 30% of its revenues are sourced from exports. The company's PAT (profit after tax) jumped from Rs 418.86 crore in FY23 to Rs 449.74 crore in FY24. For the quarter ended June 30, 2024, the company's revenue from operations stood at Rs 3,154.36 crore, and profit after tax stood at Rs 91.59 crore. As of the second quarter of FY25, the company has 65 ongoing projects across 12 countries. Compared to its peers like Larsen and Toubro, which has a return on net worth (RoNW) of 15.24% and Kalpataru Project International, whose RoNW stands at 10.17%, Afcons has an RoNW of 15.24%. Anand Rathi Research recommends subscribing to this IPO from a long-term perspective, noting that the issue appears fully priced. "At the upper band, the company is valued at 37.9x its FY24 earnings, along with being valued at 46.3x if we annualize FY25 earnings. Following the issuance of equity shares, the company's <keyword id="19930507" type="General" weightage="20" keywordseo="market-capitalization" source="keywords">market capitalization</keyword> stands at Rs 1,70,261.8 million, with a market cap-to-sales ratio of 1.34 based on its FY24 earnings. We believe that the issue is fully priced and recommend "Subscribe-Long-term” rating to the IPO, it adds.

Afcons Infrastructure IPO: Offer subscribed to 0.28x on day 2. Should you invest?

<ul><li>The <keyword id="20613906" type="General" weightage="100" keywordseo="Economic-Survey" source="keywords">Economic Survey</keyword> 2023-24 was tabled by the <keyword id="19956758" type="General" weightage="20" keywordseo="Finance-Minister" source="keywords" meta.keywordsubtype="org" meta.entityname="Finance Minister" meta.hostid="261" meta.entityid="Finance Minister">Finance Minister</keyword> in the Lok Sabha.</li><li>The report was tabled a day before FM Nirmala Sitharaman is slated to present the budget.</li><li>The report has highlighted the need for private investments in infrastructure.</li></ul>Finance Minister Nirmala Sitharaman on Monday tabled the <a href="https://www.businessinsider.in/budget/news/budget-2024-live-news-top-things-every-indian-should-know-about-the-economic-survey-2023-24/articleshow/111918064.cms">Economic Survey</a> 2023-2024 in the Lok Sabha, a day ahead of the Budget being tabled. According to the report, India’s real gross domestic product (GDP) grew by 8.2% in FY24. The report has revealed that large-scale infrastructure projects in the country have largely been funded by <keyword id="22504538" type="General" weightage="20" keywordseo="public-sector-investment" source="keywords">public sector investment</keyword> in recent years. The government has highlighted a need for private sector investment in infrastructure building. <div type="Article" hostid="261" msid="111923191" title="Economic Survey 2024 – industries grow by 9.5%, fueling economic growth to 8.2%" mstype="2" mssubtype="0"></div> In the five years between 2019 and 2023, the central and state Governments contributed 49% and 29% of the total investments in infrastructure, while, the private sector's contribution was just 22%. “There is significant scope for boosting India’s <keyword id="20018651" type="General" weightage="20" keywordseo="private-investment" source="keywords">private investment</keyword>, especially in the context of investment requirements facing the Indian economy in the areas of infrastructure, green transition, etc,” as per the Economic Survey 2024. <h2>National highways triple, railways receive a boost</h2>In the last decade, the pace of construction of national highways has reportedly tripled. According to the Economic Survey 2024, the pace of construction of national highways has increased from 11.7 km per day in FY14 to around 34 km per day by FY24. The capital expenditure in railways has increased by 77% in the last five years, with significant investments directed at the construction of new lines, gauge conversion and doubling. The passenger handling capacity at airports in the country has increased by 62 million passengers per annum in FY24 with new terminal buildings being opened at 21 airports. There is now a need to add more airports and expand the existing airports. The clean energy sector in India saw new investment of ₹8.5 lakh crore between 2014 and 2023. <h2>Metro and rapid train connectivity to soon double</h2>At present, 945 km of metro rail or RRTS lines are operational, out of which 86 km was added in FY24. This is set to soon double as 993 km of metro and RRTS lines are under construction in 27 cities across the country. SEE ALSO: <a href="https://www.businessinsider.in/budget/news/budget-2024-live-news-top-things-every-indian-should-know-about-the-economic-survey-2023-24/articleshow/111918064.cms">Economic Survey highlights: Top 10 things every Indian should know from the Economic Survey 2023-24</a> <a href="https://www.businessinsider.in/budget/news/economic-survey-2024-industries-grow-by-9-5-fueling-economic-growth-to-8-2/articleshow/111923191.cms">Economic Survey 2024 – industries grow by 9.5%, fueling economic growth to 8.2%</a> <a href="https://www.businessinsider.in/budget/article/economic-survey-2023-2024-highlights-emerging-job-trends-in-ai-cybersecurity-3d-printing-and-web-development/articleshow/111923746.cms">Economic Survey 2023-2024 highlights emerging job trends in AI, Cybersecurity, 3D Printing and Web Development</a>

Economic Survey highlights public sector investment's role in driving infra growth; Underlines need for private sector to step up

<ul class="summary-list"><li>Large sporting events like the Olympics require huge amounts of connectivity infrastructure.</li><li>The infrastructure is used after the events themselves, leaving a legacy for host-city dwellers.</li></ul>In Paris, <a target="_blank" class="" href="https://www.businessinsider.com/alev-kelter-olympic-womens-rugby-us-training-2024-7">athletes are bringing their best and breaking records</a>. But achievements at the 2024 Summer Games go beyond the physical feats broadcast around the world.Behind the scenes, <a target="_blank" class="" href="https://www.businessinsider.com/paris-olympics-internet-connection-5g-mobile-technology-2024-7">5G infrastructure</a> is powering live broadcasts worldwide and the moments spectators and athletes capture and post on social media.High-speed fiber-optic networks, 5G cellular towers, and advanced WiFi systems have been deployed at 120 sites across Paris to handle the internet demands of global broadcasters, millions of visitors, and the Games' intricate operations.Events as expansive and popular as the Olympics demand robust and high-capacity networks to broadcast live events to viewers worldwide and support the digital needs of athletes, officials, and spectators.Rolf Werner, the head of mobile networks in Europe at Nokia, said that with careful planning, these types of <a target="_blank" class="" href="https://www.businessinsider.com/5g-advanced-standalone-6g-qualcomm-huawei-mwc-2024-3">5G connectivity investments</a> can last for years."By investing in 5G infrastructure, cities can create a <a target="_blank" class="" href="https://www.businessinsider.com/5g-transforms-businesses-better-security-remote-capabilities-2024-5">robust digital foundation</a> that benefits local communities long after the event has concluded," Werner told Business Insider. That includes strengthening local businesses' internet connectivity, he said.Sandeep Raithatha, the head of strategy, innovation, and 5G IoT products at Virgin Media O2, said private 5G networks that were initially deployed in Olympic venues for broadcast-service use could be repurposed for live events."Once installed, these networks can continue to be utilized for future events as well, ensuring a lasting benefit beyond the initial investment," Raithatha told BI.That's been the case for Olympic host cities like London and Tokyo, where 5G installations continue to power connectivity for residents and visitors.<h2 id="6014d88e-fe10-42a7-a8e7-2e9ad0a2a87e">London 2012: Stratford Halo</h2>Virgin Media O2 upgraded London's connectivity infrastructure when the city hosted the Games in 2012."This included installing additional masts around major airports to ensure tourists could get online immediately and deploying small cells around the venues so that fans could consistently connect in densely populated areas, whether to send selfies, stream videos, or share their location for safety reasons," Raithatha said.One key build was the Stratford Halo, which acted as the TV broadcasting tower for the Games. After the event, it became a hub for YouTubers and other content creators because of its gigabit-speed internet connectivity. It was considered revolutionary because the average internet speed in the UK at the time was slower.The planning efforts allowed the Stratford Halo to be repurposed into a residential building two years after the closing ceremony.In the lead-up to the Games, connectivity infrastructure was embedded in the London Underground light-rail network and the Westfield shopping center in Stratford. Communities continue to rely on this technology for internet access.<h2 id="0f74ba14-8f70-4b55-aea6-131d7970ae5f">Tokyo 2020: Tokyo Data Highway</h2>Japan has a reputation as a technology innovator. But its capital, Tokyo, which in 2021 hosted the delayed 2020 Summer Olympics, had a meager showing of 5G infrastructure.5G technology wasn't adopted at a consumer level until 2019, and Japan's 5G-infrastructure rollout was <a target="_blank" href="https://www.reuters.com/article/idUSKBN22R0XP/">delayed by the COVID-19 pandemic</a>. In 2020, just 10 5G towers were installed.But 5G technology became more common by 2021, two years after Tokyo launched its 5G-infrastructure project, the Tokyo Data Highway. Buoyed by the Olympics, the city added dozens of 5G towers to its connectivity system, expanding to 149 installations in 2021.The goal is to have 5G available throughout the city by 2030, though it's unclear how far along the project is.<h2 id="39507179-0379-4d14-9e10-fe6309766453">Beijing 2022: Beijing-Zhangjiakou high-speed railway</h2>The 108-mile Beijing-Zhangjiakou high-speed railway connected the host city of the 2022 Winter Olympics with the rest of China.It linked Beijing to the competition space outside the Chinese capital where events like ski jumping, snowboarding, and freestyle skiing took place. Athletes were able to take the driverless train between the two locations at speeds of up to 217 mph.But the railway's legacy goes beyond the hyperfast transportation it continues to provide; it was also the first high-speed train equipped with 5G coverage.The train route was also lined with 5G signal towers to ensure reliable, high-speed internet. In 2022, the 5G technology was fast enough that train riders could watch the opening ceremony on their personal devices. Now riders can enjoy superfast interest connections while traveling on the railway.

How Olympic host cities have recycled 5G infrastructure to improve locals' internet speeds and connectivity

<keyword id="20018917" type="General" weightage="20" keywordseo="Capital-expenditure" source="keywords">Capital expenditure</keyword> on the <keyword id="19914937" type="General" weightage="20" keywordseo="Railways" source="keywords">Railways</keyword> has increased by 77 per cent over the past five years with significant investments in the construction of <keyword id="22505706" type="General" weightage="20" keywordseo="new-lines" source="keywords">new lines</keyword>, <keyword id="20375816" type="General" weightage="20" keywordseo="gauge-conversion" source="keywords">gauge conversion</keyword> and doubling, the <keyword id="20613906" type="General" weightage="100" keywordseo="Economic-Survey" source="keywords">Economic Survey</keyword> 2023-24 said on Monday. According to the survey tabled in Parliament by Finance Minister <keyword id="19916618" type="General" weightage="20" keywordseo="nirmala-sitharaman" source="keywords">Nirmala Sitharaman</keyword>, in the financial year 2019-2020, the capital expenditure was 1.48 lakh crore which was increased to ₹2.62 lakh crore in 2023-24. "<keyword id="19909154" type="General" weightage="20" keywordseo="Indian-Railways" source="keywords" meta.keywordsubtype="org" meta.entityname="Indian Railways" meta.hostid="346" meta.entityid="Indian Railways">Indian Railways</keyword>, with over 68,584 route km (as of March 31, 2024) and 12.54 lakh employees (as of April 1, 2024), is the fourth largest network in the world under single management," the survey said. Highlighting the initiatives taken by the Railway Ministry for the enhancement of operations and services, the survey mentioned Amrit Bharat Station Scheme, Mumbai-Ahmedabad High Speed Rail (MAHSR) project and Dedicated Freight Corridors (DFCs) with the progress made in these respective <keyword id="19900581" type="General" weightage="20" keywordseo="projects" source="keywords">projects</keyword>. According to the survey, Amrit Bharat Station Scheme, launched in August 2023 for development of stations on a continuous basis, involves preparation of master plans and its phased implementation to improve amenities, building improvements, multimodal integration, and sustainability. It said that 1,324 stations have been identified for upgradation so far. Talking about another initiative, Mumbai-Ahmedabad High Speed Rail (MAHSR) project, the survey said that under this 508-km project, executed with cooperation from the government of Japan, land acquisition and civil conduct award have been completed. "Overall physical progress of 41.7 per cent has been achieved and financial expenditure of ₹59,291 crore was incurred until 31st March, 2024," the survey said. "Two DFCs are under implementation namely the eastern DFC with route length of 1,337 kilometre and the western DFC with route length of 1,506 kilometre," it added. It further stated that by the end of FY24, 96.1 per cent of the total DFC route length has been completed. Highlighting other major achievements, the survey said that the Railways achieved its highest-ever production for both locomotives and wagons in FY24. "Fifty one pairs of <keyword id="19922877" type="General" weightage="20" keywordseo="vande-bharat" source="keywords">Vande Bharat</keyword> have been introduced until March 2024. The fast pace of infrastructure augmentation has been the result of a substantial increase in financial allocation along with close project monitoring and regular follow-up with stakeholders for expeditious land acquisition and clearances," the survey said. It added, "High-speed, long-distance Vande sleeper trainset coaches having features like quick acceleration, diffused lighting, automatic doors and global positioning system-based passenger information system are under development." According to the survey, the Railways is also planning to introduce Vande metro trainset coaches with features such as sealed wider gangways, centrally controlled automatic sliding doors, CCTVs for safety and surveillance, route map indicator, passenger information and infotainment system, fire detection system and aerosol-based fire suppression system. "The first lot is expected to be turned out in FY25," it said. "Railways has taken several initiatives for providing a clean environment in and around railway stations and trains, such as replacement of conventional toilets with bio-toilets on coaches leading to clean tracks, segregation of bio-degradable/non bio-degradable waste, solid waste management and discouraging use of single use plastic," the survey added.

Capital expenditure on Railways increased by 77% over 5 years: Economic Survey

<ul class="summary-list"><li>Internet and phone services in six regions of France were disrupted after fiber optic cables were cut overnight.</li><li>It is the second attack on French infrastructure while the country hosts the Olympics.</li></ul>French phone and internet services were targeted on Sunday night, in the second incident to affect French infrastructure while the nation hosts the Olympics.Multiple telecommunications operators were experiencing disruption after fiber optic cables were "sabotaged" across six regions of France, French police told <a target="_blank" class="" href="https://x.com/AFP/status/1817829878370312202">Agence France-Presse</a>.The regions of Bouches-du-Rhône, Aude, Hérault, Drôme in the south and Oise and Meuse in the north had been affected, according to <a target="_blank" class="" href="https://www.francetvinfo.fr/faits-divers/des-reseaux-de-fibres-optiques-coupes-dans-six-departements_6693414.html#xtor=CS2-765-%5Bautres%5D-">France Info</a>."Damages committed in several departments last night affected our telecommunications operators," confirmed. Marina Ferrari, Secretary of State for Digital Affairs, in <a target="_blank" class="" href="https://x.com/Marina_Ferrari/status/1817839721931829550">a post on X</a>.She called the attacks "cowardly and irresponsible."Authorities were working with the operators to restore services, she said. No one has claimed responsibility.SFR, one of the affected providers, told France Télévisions that access gates to at least five locations had been damaged and very large cables had been cut, likely with some kind of grinder, France Info reported.The disruption to broadband services is the second major incident for France's infrastructure as it hosts the 2024 Olympics. It is not known if the two incidents are connected.On Friday, as Paris prepared for the Olympics opening ceremony, three major railway lines were <a target="_blank" class="" href="https://www.businessinsider.com/paris-olympics-arson-attack-transport-woes-2024-7">damaged by arson attacks</a> causing disruption across the transport network.The attacks came as up to 800,000 travelers were expected to travel for vacation over the weekend. Two trains taking Olympic athletes to Paris were reportedly impacted, the Associated Press reported.<div type="image" title="Railway workers in orange stand around the side of a rail track working to fix black cables spread over the ground." height="900" width="1600" msid="112110891" hostid="261" sizebytes="364666"></div>France's national railway company, the SCNF, later said it made emergency repairs and would resume normal service on Monday. France's transport minister said details made clear that the arson attacks had been coordinated.On Sunday, French authorities arrested an activist from an ultra-left movement at a site belonging to SNCF in Oissel, northern France, <a target="_blank" class="" href="https://x.com/AFP/status/1817878486570430776">AFP</a> reported.This is not the first time that French fiber-optic cables have been targeted.In 2022, <a target="_blank" class="" href="https://apnews.com/article/technology-europe-france-marseille-business-49d27ccc0195f1c48b33a5634232031f">two high-profile incidents</a> of cable cutting around the country led to internet outages.The French police launched an investigation on charges including "damaging goods of a nature of harming the fundamental interests of the nation."SFR and the Center for the Defense of Electronic Communications did not immediately reply to a request for comment from Business Insider.

French infrastructure was targeted for a 2nd time during the Olympics, with internet and phone cables cut across the country

Human activities and their urban expansion are increasingly intruding upon wildlife habitats. This has forced animals into dangerous proximity with human infrastructure, resulting in a tragic surge of accidental deaths among animal populations. The situation is no different in Tamil Nadu, which has been grappling with the issue of <keyword id="21240191" type="General" weightage="20" keywordseo="elephant-deaths" source="keywords">elephant deaths</keyword> on and near its railway tracks. The southern state has recorded at least 36 fatalities from train collisions over the past decade. In response to this pressing issue, the state's high court mandated collaborative efforts between the forest department and railways to curb these incidents. To address this issue, Tamil Nadu has now sought help from the phenomenon that promises to change the world as we know it: <keyword id="19904566" type="General" weightage="20" keywordseo="artificial-intelligence" source="keywords">artificial intelligence</keyword> (<keyword id="6355999" type="General" weightage="100" keywordseo="AI" source="Orion">AI</keyword>). Installing 12 towers equipped with advanced <keyword id="7885611" type="General" weightage="20" keywordseo="AI-cameras" source="Orion">AI cameras</keyword> along two key rail tracks near Madukkarai, the state forest department aims to detect and prevent elephant-train collisions, particularly along routes intersecting the elephants' migratory paths. Each tower is outfitted with AI cameras capable of thermal and visible light imaging, comparable to those deployed by the Indian Army along the nation's borders. These cameras are programmed to detect elephants and humans near railway lines. When elephants are spotted within 100 feet of the tracks, alerts are swiftly relayed to forest and railway authorities, enabling them to mitigate risks by slowing down trains and guiding the animals away from harm's way. The project has been executed at a cost of ₹7.2 crore since its launch in February this year, Supriya Sahu, secretary of the Tamil Nadu Forest Department, told the BBC. But the AI-based surveillance system has proved its worth by demonstrating promising results, detecting nearly 400 instances of elephants approaching railway tracks and facilitating timely interventions to prevent potential accidents. This proactive approach marks a significant improvement over traditional methods, such as regular patrols by forest personnel, which often proved inadequate in ensuring elephant safety. Encouraged by the success of this initiative, Tamil Nadu plans to expand the AI-based system to five additional vulnerable areas across the state, including Coimbatore, Dharmapuri, Hosur and Gudalur. This strategic expansion underscores the state's commitment to safeguarding wildlife and mitigating <keyword id="20694291" type="General" weightage="20" keywordseo="human-wildlife-conflicts" source="keywords">human-wildlife conflicts</keyword> through innovative technological solutions. Moreover, Tamil Nadu's adoption of AI technology reflects a broader trend in India, where initiatives like the Gajraj project — spearheaded by the federal railway ministry — aim to protect wildlife in elephant corridors across multiple states. By leveraging AI-based surveillance systems to monitor animal movements near railway tracks, these initiatives strive to prevent accidents and foster better coexistence between humans and wildlife.

Tamil Nadu is using army-grade AI surveillance to prevent elephant deaths on railway tracks, and it’s working!

New Delhi, Prime Minister <keyword id="19962578" type="General" weightage="20" keywordseo="shri-narendra-modi" source="keywords">Shri Narendra Modi</keyword> will lay the foundation stone, inaugurate and dedicate to the nation around 2,000 railway infrastructure projects worth more than Rs 41,000 crore on Monday. The event will be held at 12:30 p.m. via video conferencing. In a post on X, <keyword id="19899320" type="General" weightage="20" keywordseo="pm-modi" source="keywords">PM Modi</keyword> said, "Today is a historic day for our Railways! At 12:30 PM, 2000 railway infrastructure projects worth over Rs. 41,000 crores will be dedicated to the nation. "In order to enhance the travel experience, 553 stations will be redeveloped under the <keyword id="20270535" type="General" weightage="20" keywordseo="amrit-bharat-station-scheme" source="keywords">Amrit Bharat Station Scheme</keyword>. The foundation stones for these stations would be laid. Overbridges and underpasses across India will also be inaugurated. "These works will further 'Ease of Living' for the people." In a major step to provide world class amenities at railway stations, the Prime Minister will lay the foundation stone for redevelopment of 553 railway stations under the Amrit Bharat Station Scheme. These stations, spread across 27 states and Union Territories, will be redeveloped at a cost of over Rs 19,000 crore. These stations will act as 'City Centres' integrating both sides of the city. They will have modern passenger amenities like roof plaza, beautiful landscaping, inter modal connectivity, improved modern facade, kids play area, kiosks, food courts, etc. They will be redeveloped as environment friendly and also <keyword id="20109552" type="General" weightage="20" keywordseo="divyang" source="keywords">Divyang</keyword> friendly. The design of these station buildings will be inspired by local culture, heritage and architecture. Further, the Prime Minister will inaugurate <keyword id="20727159" type="General" weightage="20" keywordseo="gomti-nagar" source="keywords">Gomti Nagar</keyword> station in Uttar Pradesh which has been redeveloped at a total cost of around Rs 385 crore. To cater to the increased future passenger footfall, this station has segregated arrival and departure facilities. It integrates both sides of the city. This centrally air-conditioned station has modern passenger amenities like Air Concourse, congestion free circulation, food courts and ample parking space in upper and lower basement. The Prime Minister will also lay the foundation stone, inaugurate and dedicate to the nation 1500 Road Over Bridges and Underpasses. These Road Over Bridges and Underpasses spread across 24 states and Union Territories, the total cost of these projects is around Rs 21,520 crore. These projects will reduce congestion, enhance safety and connectivity, improve capacity, and efficiency of rail travel.

PM Modi to launch 2,000 railway infra projects worth over ₹41,000 cr

Strong demand for <keyword id="17408" type="General" weightage="20" keywordseo="infrastructure" source="Orion">infrastructure</keyword> investment, attractive returns, and favourable government policies have pushed fund mobilization through listed <keyword id="11931834" type="General" weightage="20" keywordseo="reits" source="Orion">REITs</keyword> and <keyword id="6425787" type="General" weightage="20" keywordseo="invits" source="Orion">InvITs</keyword> to Rs 18,658 crore in the April-September period of the current fiscal. This came following a fund collection of Rs 2,596 crore through listed Infrastructure Investment Trusts (InvITs) in the entire 2022-23, although the amount mopped up through listed <keyword id="6354553" type="General" weightage="20" keywordseo="real-estate" source="Orion">Real Estate</keyword> Investment Trusts (REITs) was nil, data with the Securities and Exchange Board of India (<keyword id="35210" type="General" weightage="20" keywordseo="sebi" source="Orion">Sebi</keyword>) showed. Going forward, experts believe that trends seen in REITs and InvITs will continue in the second half of the year too. "The fresh savings will continue similarly as has happened in the last six months, and the investments will continue to be towards InvITs as both the central government and the state governments continue to focus more on infrastructure development," Himanshu Kohli, Co-founder of Client Associates, said. Hence, the trends you have seen in REITs and InvITs will continue in the second half of the year, he said. According to Sebi data, Rs 18,658 crore was collected through these emerging investment vehicles in the April-September period of 2023-24. This comprises Rs 12,753 crore through InvITs and the remaining Rs 5,905 crore via REITs. Karan Shetty, Co-Founder of Claravest, a fractional ownership real estate investment platform, attributed several factors for the massive jump in fundraising through the route to favourable government policies, huge demand for investment in real estate, and the government's focus on urbanisation and infrastructure development. Additionally, other reasons for the surge in fund collection could be regular income provided by REITs and InvITs as these trusts are required to distribute 90 per cent of their income to investors regularly, gives diversification benefit, provides liquidity benefits as the units trade on stock exchanges and increased awareness and investor interest about the instruments, Feroze Azeez, Deputy CEO, Anand Rathi Wealth, said. Moreover, the government and the capital markets regulator Sebi have played an active role in popularising and promoting REITs and InvITs in India. Of the Rs 18,658 crore investment, Rs 12,753 crore was invested through InvITs, and the remaining Rs 5,905 crore via REITs. InvITs have been more popular than REITs in terms of fundraising, due to several factors as InvITs can invest in a wider range of assets than REITs, including roads, highways, bridges, railways, power transmission lines, renewable energy projects, and gas pipelines. Besides, InvITs are exempt from paying income tax at the trust level, which makes them more attractive to investors, Azeez said. "Further, the infrastructure sector in India is expected to grow significantly in the coming years, which is likely to drive the growth of InvITs," he added. REITs and InvITs are relatively new investment instruments in the Indian context but are extremely popular in global markets for passive income investors due to attractive yields and capital appreciation. While a REIT comprises a portfolio of commercial real assets, a major portion of which is already leased out, InvITs consist of a portfolio of infrastructure assets such as highways, and power transmission assets. InvITs and REITs help infrastructure developers monetise their assets and redeploy the capital into upcoming projects. However, these instruments are comparatively new to Indian investors with only four registered REITs and 22 registered InvITs, as of August 8, 2023, Sebi data showed. The value of mutual fund exposure to REITs and InvITs stood at Rs 8,416 crore as of September 30, 2023.

REITs,  InvITs collect Rs 18,658 cr in Apr-Sep on robust infra demand, attractive returns

The <keyword id="6355455" type="General" weightage="20" keywordseo="indian-railways" source="Orion">Indian Railways</keyword> (IR) has set a target of 100 per cent electrification of its network by December 2023, said <keyword id="6354872" type="General" weightage="20" keywordseo="economic-survey" source="Orion">economic survey</keyword> 2021-22. To achieve this target with creation of other infrastructure in the sector, the government has increased the CAPEX (Capital expenditures) by five fold in the last seven years. Union Finance Minister <keyword id="129243" type="General" weightage="20" keywordseo="nirmala-sitharaman" source="Orion">Nirmala Sitharaman</keyword> on Monday tabled Economic Survey 2021-22 in the Lok Sabha. The survey claims that IR is targeting 100 per cent electrification of its network by December 2023, upgradation of Delhi-Mumbai and Delhi-Kolkata corridors to 160 kmph and also elimination of level crossings on the Golden Quadrilateral and Golden Diagonal routes. The CAPEX has been increased substantially for IR from an average annual of Rs 45,980 crore during 2009-14 to Rs 2,15,058 crore during 2021-22. "An average of 1,835 track km per year of new track length has been added through new-line and multi-tracking projects during 2014-2021 as compared to the average of 720 track km during 2009-14," survey said. It mentioned that safety of the passengers and safe upkeep of railways assets is the topmost priority of IR. "With a continuing focus on safety of passengers the number of consequential train accidents has come down from 59 in 2018-19 to 55 in 2019-20 (pre-Covid) and further to 22 in 2020-21," it said. In order to strengthen the agriculture sector, as on December 31, 2021, the railways has operated 1,841 Kisan Rail services, transporting approximately six lakh tonnes of perishables items including fruits and vegetables. During FY21, IR carried 1.23 billion tonnes of freight and 1.25 billion passengers. "Despite Covid-19 pandemic, revenue earning freight loading (excluding loading by Konkan Railway Corporation Ltd. (KRCL) was 1230.9 million tonnes in 2020-21 as compared to 1208.4 million tonnes during 2019-20. Passengers originating were 1,250 million in 2020-21 as compared to 8,086 million in 2019-20," it said. In order to provide better amenities, the IR has embarked on providing Wi-Fi internet services at all stations (excluding halt stations) and as on December 5, 2021, total 6,087 Railway Stations have been equipped with the facility. In addition, projects connecting difficult terrain such as Rishikesh- Karnaprayag line as also the rail network to connect all capitals of north east states are ongoing. Further, a number of infrastructure development initiatives are envisaged in the National Rail Plan (NRP) being prepared by the Indian Railways. The plan envisages the creation of a future ready railway system that is able to not only meet the passenger demand but also increase the modal share of railways in freight to 40-45 per cent from the present level of 26-27 per cent. As per the National Rail Plan, the freight ecosystem is expected to grow from the present level of 4,700 MT to 8,200 by 2030. "At present the railway capacity is barely able to carry 1,220 MT which is around 26-27 per cent of the modal share. The Plan provides a pipeline of projects, which on completion will increase railway capacity to capture 45 per cent of freight traffic," the plan said. To prevent further bleeding away of modal share, railway capacity enhancing projects have been categorized as 'Super Critical' and 'Critical'. A total of 58 projects have been identified as 'Super Critical' and are targeted for completion by December 2022. About 68 projects have been identified as 'Critical' and have been targeted for completion by March 2024. "These projects are focused at increasing capacity on routes that serve major mineral, industrial hubs along with ports and major consumption centres," it said. "The next 10 years will see a very high level of CAPEX in the railway sector as capacity growth has to be accelerated such that by 2030 it is ahead of demand. As more projects are taken on hand and several sources of capital funding are developed, the CAPEX will increase further in coming years and the railway system will actually emerge as an engine of national growth," it added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/prime-minister-narendra-modi-mann-ki-baat-january-2022-does-not-mention-if-india-bought-pegasus-spyware/articleshow/89218666.cms">Simply put, the charge on the Modi government is that it lied to the Parliament about buying Pegasus spyware and it must respond</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/rupee-is-likely-to-weaken-against-the-us-dollar-in-2022-as-per-experts/articleshow/89218673.cms">Experts say the rupee is likely to weaken against the US dollar this year</a>

Indian railways target 100% electrification by December 2023

<ul class="summary-list"><li>Facebook spent $20 million planning to revive a railway bridge near its office to improve traffic.</li><li>The project, abandoned due to political pressure, may be a glimpse at The Boring Company's future.</li></ul>Facebook's failed plans to revive an old railway bridge to ease traffic congestion near its offices are among the latest stumbling points facing future-looking tech companies as they try their hands at solving transportation woes.The social media company <a href="https://www.businessinsider.com/facebook-considered-reviving-disused-railway-line-to-silicon-valley-2023-1">planned to renovate the Dumbarton Rail Bridge</a> — an unused railway spanning San Francisco Bay — after it acquired Instagram and Whatsapp, expanding employee headcount nearly ten-fold in six years from 3,200 in 2011 to over 25,000 workers by 2017.The bridge was intended to streamline the increased traffic to its headquarters and expand Facebook's property portfolio, renovating the railway that <a href="https://www.sfgate.com/obscuresf/article/The-Dumbarton-Rail-Bridge-was-the-Bay-Area-s-first-16613681.php">laid dormant for 40 years</a>.The $20 million project — initiated in 2017 and abandoned in 2020 due to political hurdles and COVID-19 complications, according to <a href="https://www.nytimes.com/2023/01/08/business/facebook-dumbarton-rail-bridge.html" rel=" nofollow">The New York Times</a>, which published a deep dive into the failed project on Saturday — may be a glimpse at the future of Elon Musk's Boring Company, which has been described by <a href="https://www.wsj.com/articles/elon-musk-boring-company-tunnel-traffic-11669658396">The Wall Street Journal</a> as "ghosting" major US cities by backing out of proposals to build tunnel systems.The Boring Company, an infrastructure company that began as a subsidiary of SpaceX before separating in 2018, has promised since its inception to build high-speed tunnels in major cities in an effort to reduce traffic and improve pedestrian access. It raised <a href="https://www.boringcompany.com/seriescround" target="_blank" rel="noopener noreferrer">$657 million in series C investment</a>, giving the company a nearly $5.7 billion valuation.Since the completion of its research and development test tunnel in Hawthorne, California in 2018, The Boring Company has completed just one project open to the public: a 1.7 mile loop connecting the campuses of the Las Vegas Convention Center with its Exhibit Hall. Plans for other tunnels — including projects in Los Angeles, connecting Washington, DC to Baltimore, and from the Chicago airport to its downtown neighborhood — have been scrapped by The Boring Company.Los Angeles proposals to build tunnels under the congested 405 freeway and near Dodger Stadium were abandoned in 2018 and 2021, <a href="https://techcrunch.com/2018/11/28/elon-musks-boring-co-drops-la-westside-tunnel-plan/">TechCrunch reported</a>, after facing <a href="https://www.latimes.com/local/lanow/la-me-elon-musk-tunnel-ceqa-20180418-story.html" target="_blank" rel="noopener">criticism from city council members</a> for being "rushed." The DC to Baltimore transit system, announced in 2017, was canceled in 2021 following issues with environmental review processes and permitting delays, <a href="https://www.washingtonpost.com/local/trafficandcommuting/elon-musk-hyperloop/2021/04/16/b340314e-9edd-11eb-9d05-ae06f4529ece_story.html">The Washington Post reported</a>.In Chicago, a 2018 bid by The Boring Company to build high-speed tunnels to the O'Hare Airport was dropped by June 2021, following public criticism of the lack of transparency surrounding the untested technology, <a href="https://www.bizjournals.com/chicago/news/2018/09/26/elon-musks-1b-high-speed-transit-line-to-ohare.html">The Chicago Business Journal reported</a>. "Every time I see him on TV with a new project, or whatever, I'm like: Oh, I remember that bullet train to Chicago O'Hare," <a href="https://www.wsj.com/articles/elon-musk-boring-company-tunnel-traffic-11669658396">The Wall Street Journal reported</a> Chicago city council member Scott Waguespack said, referring to Musk. Former senior executives of The Boring Company say <a href="https://www.businessinsider.com/elon-musk-boring-company-struggles-retain-staff-long-working-hours-2022-11">the company is struggling to retain engineers and technical staff</a>, given Musk's strict leadership style, which includes <a href="https://www.businessinsider.com/elon-musk-dangers-of-overwork-2018-8" rel="">working 120-hour weeks</a> and <a href="https://www.businessinsider.com/elon-musk-sleeping-habits-tesla-factory-floor-twitter-late-nights-2022-11" rel="">sleeping on couches in his factories</a> and <a href="https://www.businessinsider.com/elon-musk-tells-twitter-tesla-staff-be-hardcore-old-email-2022-11">expecting employees to do the same</a>.The Boring Company was created after a series of seemingly joking <a href="https://twitter.com/elonmusk/status/810108760010043392">2016 tweets</a> sent in the early morning hours by Musk, in which he complained about traffic and promised to start digging tunnels. "Traffic is driving me nuts. Am going to build a tunnel boring machine and just start digging...," he <a href="https://twitter.com/elonmusk/status/810156881662590981">posted</a> at 5:05 a.m. A few hours later he <a href="https://twitter.com/elonmusk/status/810156881662590981" target="_blank" rel="noopener">added</a>: "I am actually going to do this."<a href="https://twitter.com/elonmusk/status/810108760010043392"></a>While reporters and consumers immediately <a href="https://www.theverge.com/2016/12/17/13993754/elon-musk-tunnel-boring-tesla-spacex">questioned whether Musk was serious</a> about creating The Boring Company, early progress on its development silenced critics for several years.Now, on its <a href="https://www.boringcompany.com/projects">website</a>, the only currently listed tunnel projects include modifications to the Las Vegas Loop. It's unclear whether The Boring Company will submit additional bids for tunnel projects in the future or complete the scheduled additions to the Vegas Loop.Online, <a href="https://twitter.com/IdaReggaeMon/status/1612215718384226304" target="_blank" rel="noopener">critics</a> are <a href="https://twitter.com/LordLard/status/1612212120174878720">voicing</a> <a href="https://twitter.com/drvolts/status/1612212063128125440">concerns</a> that the whole company was a "<a href="https://twitter.com/IdaReggaeMon/status/1612215718384226304" target="_blank" rel="noopener">scam</a>" or "<a href="https://twitter.com/drvolts/status/1612211655672483840">bait and switch</a>" that was "designed to propose automobile alternatives to mass transit projects" and drive business toward his electric vehicle company, Tesla.Despite its failed plan to materialize the Dumbarton Rail Bridge project, Facebook has continued massive infrastructure undertakings, largely in the form of submarine cable acquisition and development.The social media company, rebranded as Meta since it began the cable development and scrapped the bridge plan, has acquired 6% of operating cable routes worldwide as of 2022, <a href="https://fairinternetreport.com/research/facebook-meta-submarine-cable-ownership">according to Fair Internet Report</a>, a market research firm. By the time its <a href="https://www.businessinsider.com/google-facebook-giant-undersea-cables-internet-tech-2021-9">2Africa infrastructure project</a> is completed, Meta will hold an interest in more than 13% of the world's submarine cable infrastructure, spanning 33 countries and touching 36% of the global population.Though the future of The Boring Company's tunnels remains unclear, it appears Musk will continue to attempt to innovate existing infrastructure through his many businesses — including plans to use Tesla's energy storage technology to "shift the entire energy infrastructure and transport infrastructure of earth," <a href="https://electrek.co/2022/06/09/elon-musk-reveals-tesla-master-plan-part-3/" target="_blank" rel="noopener">Electrek, a transportation news service, reported</a>.Representatives for Facebook and The Boring Company did not immediately respond to Insider's requests for comment.

Infrastructure innovation derailed: How Facebook's failed plan to turn a century-old railway into a commuter bridge may serve as a warning for The Boring Company

Prime Minister <keyword id="6354477" type="General" weightage="20" keywordseo="narendra-modi" source="Orion">Narendra Modi</keyword> and his Bangladeshi counterpart <keyword id="66026" type="General" weightage="20" keywordseo="sheikh-hasina" source="Orion">Sheikh Hasina</keyword> jointly inaugurated three Indian-assisted development projects via video conferencing on Wednesday. The three projects are the Akhaura- Agartala Cross-Border <keyword id="48829" type="General" weightage="50" keywordseo="rail-link" source="Orion">Rail Link</keyword>, Khulna - Mongla Port Rail Line and Unit - II of the Maitree Super Thermal Power Plant in Rampal, <keyword id="6354759" type="General" weightage="20" keywordseo="bangladesh" source="Orion">Bangladesh</keyword>. The inauguration of rail and power sector projects between India and Bangladesh lay focus on strengthened ties and partnership between the two countries. "The joint inauguration of these important projects manifests the firm friendship and collaboration between our two friendly countries. I would like to thank PM Modi for the warm hospitality during my visit in September 2023 to attend the G20 Summit," the Bangladesh Prime Minister said "I express my gratitude for your commitment to strengthening the bonds of friendship between our two countries, Sheikh Hasina said. The Akhaura-Agartala Cross-Border Rail Link project has been executed under a Government of India grant assistance of Rs 392.52 crore extended to Bangladesh. The length of the rail link is 12.24 km with a 6.78 km Dual Gauge rail line in Bangladesh and 5.46 km in Tripura. The Khulna-Mongla Port Rail Line Project has been implemented under the Government of India's concessional Line of Credit with a total project cost of USD 388.92 million. The project entails the construction of approximately 65 km of broad gauge rail route between Mongla Port and the existing rail network in Khulna. With this, Mongla, the second largest port of Bangladesh, gets connected with the broad-gauge railway network. The Maitree Super Thermal Power Project, under an Indian Concessional Financing Scheme loan of 1.6 billion US dollars, is a 1320 MW Super Thermal Power Plant located in Rampal in Khulna Division of Bangladesh. The project has been implemented by the Bangladesh-India Friendship Power Company Limited which is a 50:50 Joint Venture company between India's NTPC Ltd and Bangladesh Power Development Board. These projects will strengthen connectivity and energy security in the region. During the inauguration ceremony, Sheikh Hasina also extended greetings to Prime Minister Modi and the people of India in advance of Diwali. "I would conclude her by conveying warm greetings in advance for the upcoming Diwali. I wish Your Excellency PM Modi and the people of India a very Happy Diwali," the Bangladesh Prime Minister said. Over the last decade, the Bangladesh-India Friendship Dialogue has served as a critical platform for strengthening bilateral relations between the two nations. The theme of this year's Dialogue is 'Fostering a comprehensive and mutually beneficial partnership', BNN News reported. Earlier this March, Prime Minister Narendra Modi and Bangladesh Prime Minister Sheikh Hasina inaugurated the India-Bangladesh Friendship Pipeline, a cross-border energy pipeline, built at an estimated cost of Rs 377 crore, of which the Bangladesh portion of the pipeline was built at a cost of approx. Rs 285 crore, which has been borne by the Government of India under grant assistance, read Prime Minister's Office press release. The Pipeline has the capacity to transport 1 Million Metric Ton Per Annum (MMTPA) of High-Speed Diesel (HSD). It will supply High-Speed Diesel initially to seven districts in northern Bangladesh. The operation of India- Bangladesh Friendship Pipeline will put in place a sustainable, reliable, cost-effective and environment-friendly mode of transporting HSD from India to Bangladesh. Moreover, in September, the 15th Meeting of the Joint Working Group on Trade (JWG) between India and Bangladesh was held in Dhaka, Bangladesh, where the two nations discussed various bilateral issues, including removal of port restrictions, the groundwork for the commencement of the Comprehensive Economic Partnership Agreement (CEPA). The meeting was co-chaired by the Joint Secretary, Department of Commerce, Ministry of Commerce and Industry, Government of India, Vipul Bansal and Additional Secretary, Ministry of Commerce, Government of Bangladesh, Noor Md. Mahbubul Haq. The Joint Working Group on Trade (JWG) Meetings between India and Bangladesh are held annually to discuss key trade-related issues and "explore opportunities for economic and technical collaboration, promotion, facilitation, expansion and diversification of trade between the two countries on the basis of equality and mutual benefit." Moreover, these meetings play a crucial role in quickly resolving bilateral issues by removing trade barriers, simplifying customs procedures, improvement of infrastructure, logistics, and transit facilities to facilitate smoother cross-border trade.

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