Godrej & Boyce, Renmakch sign MoU to develop a ’Make-in-India’ value chain for Indian Railways
- As per the firm, Godrej Tooling and Renmakch will have a ten-year-strong partnership and they will develop depot equipment, which is an import substitute under the 'Make in India' and 'Atmanirbhar Bharat' initiatives.
Godrej & Boyce on 1 march announced that its business Godrej Tooling has signed a Memorandum of Understanding (MoU) with Renmakch for developing workshop equipment.
The partnership with Renmakch will help Godrej Tooling to collaborate on Machinery & Plant (M&P) projects for Railways and Metro Rail. Also, the collaboration will introduce the latest technology for the Rail industry from Europe and other developed countries and indigenize it for India.
Following this alliance, Godrej & Boyce will now be able to offer a complete value chain ranging from design to build for the Railways and also bid on larger projects.
"With India’s commitment to introduce new generation trains such as Vande Bharat, we are happy to partner with Renmakch to contribute in the strengthening of the railway network across the nation. By utilizing our collective strengths and together introducing global technology from Europe and Japan, we aim to promote the indigenization of products and offer turnkey solutions for major M&P investments in modern technologies. This collaboration will contribute to improving the speed, quality, and safety of railway and metro coaches during maintenance. We look forward to a long and fruitful association with Renmakch on many important public projects for the Indian Railways and Metro Rail," Godrej Tooling's Senior Vice President & Business Head Pankaj Abhyankar said.
As per the firm, Godrej Tooling and Renmakch will have a ten-year-strong partnership and they will develop depot equipment, which is an import substitute under the 'Make in India' and 'Atmanirbhar Bharat' initiatives. Godrej Tooling supplies jigs & fixtures, automation solutions, and workshop equipment for Railway workshops and Metro depots.
With this partnership, Godrej & Boyce aims to harness the opportunity -- as the Indian Railways announced their plans to invest in new generation trains such as Vande Bharat and subsequently new workshops and depots -- by offering a turnkey solution to the Indian Railways. The Company expects to acquire a 20-30 per cent market share in this sector over the next 5 years.
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Business NewsCompaniesGodrej & Boyce, Renmakch sign MoU to develop a ’Make-in-India’ value chain for Indian Railways
First Published:1 Mar 2023, 07:19 PM IST
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