Indian Railways Awards Contract For 39,000 Train Wheels To Chinese Firm
Following the Russia-Ukraine war, the number of train wheel suppliers to India had decreased and this was the reason that the railways took this decision.
New Delhi: The Indian railways has awarded a contract for the supply of 39,000 train wheels to a Chinese company as the Russia-Ukraine war has affected the supply chain globally.
As per the Economic Times report, the tender of the same was awarded to the Chinese company named TZ Hong Kong International Limited.
"These wheels are for the Vande Bharat trains. This development can be seen as a fallout of the Russia-Ukraine crisis as there is a dearth of rail wheel suppliers to India," a senior rail ministry official was quoted in the ET report as saying.
Following the Russia-Ukraine war, the number of train wheel suppliers to India had decreased and this was the reason that the railways took this decision.
The tender worth Rs 170 crore was open on April 4 and the tender was handed over to the Chinese company on May 2 by the Ministry of Railways.
Notably, after the Galwan Valley stand-off last year, the Modi government banned companies from neighboring countries from investing and supplying.
On the other hand, if a company wants to make any kind of investment or supply in India even after this, then it has to register with the Department for Promotion of Industry and Internal Trade (DPIIT) and also get permission from the Ministry of External Affairs and Home Affairs.
Also read: LIC Shares List At 8.11 Percent Discount At Rs 872 Apiece On NSE
Also watch:
