: Traders' body urges Railway minister to prohibit Chinese company CRRC from participation in Vande Bharat project #FinanceIndia #StockMarketNEWS Traders' body urges Railway minister to prohibit Chinese

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Posted in: #FinanceIndia #StockMarketNEWS

Traders' body urges Railway minister to prohibit Chinese company CRRC from participation in Vande Bharat project #FinanceIndia #StockMarketNEWS
Traders' body urges Railway minister to prohibit Chinese company CRRC from participation in Vande Bharat project New Delhi, July 11 (KNN) As a part of its "boycott Chinese campaign" launched on June 10, the Confederation of All India Traders (CAIT), on Saturday, urged Union Railways Minister Piyush Goyal not to allow Chinese state owned China Railway Construction Corporation (CRRC) to participate in global tender for semi-high speed indigenous Train 18 project of Indian Railway.

The total worth of the project is more than 1500 crores for 44 Vande Bharat Express Trains.

CAIT National President B C Bhartia & Secretary General Praveen Khandelwal in letter to Goyal said that CRRC Corporation of China with a joint venture with one Gurgaon based firm is one of the six contenders for the tender for procuring propulsion systems or electric traction kits for 44 Vande Bharat Express Trains or Train 18.

Since this project of Indian Railways is a part of Make in India call of Prime Minister Narendra Modi, therefore considering this fact and the current critical period, it will be most appropriate not to consider the said Chinese Company for the Rail project and rather emphasis should be laid more on Indian companies who have been shortlisted for this project-said both trade leaders, the traders body added.

The duo hoped that considering CAIT request made in consonance of the call of Prime Minister Narendra Modi for "vocal on local" and " Aatamnirbhar Bharat", Goyal will take appropriate immediate action to debar Chinese company from its participation in such an ambitious and prestigious project of Indian Railways.

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