Modi govt's policy U-turn may harm 'Make in India' drive
GE won a $2.6 billion contract in 2015 to supply 1,000 diesel locomotives LATEST NEWS : Surprise policy shifts, consisting of an obvious U-turn over a locomotive cope with preferred electric, chance undermining high Minister Narendra Modi’s flagship ‘Make in India’ initiative, which targets to create millions of jobs and enhance increase, enterprise executives say. GE won a $2.6 billion agreement in 2015 to deliver 1,000 diesel locomotives - the largest direct funding in India with the aid of a U.S. company and the primary deal awarded to a foreign company after India allowed one hundred percentage foreign investment in its railways - a part of efforts to overhaul its creaking, colonial-technology infrastructure. however the railways ministry said ultimate week it wouldn’t need diesel in spite of everything - hoping to shop on fuel and maintenance fees - and advised GE may need to make electric powered engines instead. electric engines are typically used for...