India to make up 40% of global rail activity by 2050, says IEA report
A report published by the International Energy Agency (IEA) has stated that Indian railways will account for nearly 40% of total global rail activity by 2050.
The IEA prepared the report titled The Future of Rail in conjunction with the International Union of Railways (UIC).
Investments in Indian urban rail infrastructure is estimated to reach nearly $190bn by 2050. Along with the development of high-speed rail, fuel expenditures are estimated to reduce by nearly $450bn.
As a result, India can save up to $64bn on fuel expenses by that time.
The IEA report provides a specific focus on India, where rail passenger traffic increased by nearly 200% since 2000. The future prospects of rail services in the country continue to remain bright, it added.
Furthermore, the report stated that the rail sector carries 8% of passengers across the world and 7% of global freight movement. However, it utilises 2% of the total transport energy demand in the world, signifying its efficiency.
IEA executive director Dr Fatih Birol said: “The rail sector can provide substantial benefits for the energy sector, as well as for the environment.
“By diversifying energy sources and providing more efficient mobility, rail can lower transport energy use and reduce carbon dioxide and local pollutant emissions.”
Global activity in 2050 will be 2.7 times higher than current levels, the report concluded.
F0to: Indian Minister of Railways Piyush Goyal (centre left) and IEA executive director Dr Fatih Birol (centre right) at the launch of the Future of Rail. Credit: IEA.