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Bombardier’s Jyoti Says Indian Railways Budget Is ‘Cautious’

Feb. 25 (Bloomberg) -- Rajeev Jyoti, head of Indian transportation at Bombadier Inc., comments on the Indian Railways’ annual budget, released today by Minister Mamata Banerjee. She said the $12.7 billion plan outlay for the year starting April 1 will promote private industry participation through public-private partnerships.

Banerjee’s plans include setting up bridge, metro coach and locomotive factories in the South Asian nation. Jyoti spoke to reporters in New Delhi today.

“This year’s budget was unveiled with a great deal of caution. Many projects were announced without details of how they will be financed, so we are not entirely sure how we will fit in.

“Obviously, if you are cautious, you will tend to be slightly slow. We will have to play a bit of a waiting game before completely understanding how the PPP picture will move forward and how we can go about winning projects.”

On project delays:

“These are not short-term projects. They are need-based projects over the long-term. By delaying these projects, as we have seen in the past, you can be an impediment in the Indian economy and GDP growth. Sitting as a CEO of a multinational company that is the biggest challenge: how do we keep ourselves engaged.”

“The good news is that these policies and projects are being announced rapidly and with strong rigor.”

To contact the reporter on this story: Kartikay Mehrotra in New Delhi at kmehrotra2@bloomberg.net.

To contact the editor responsible for this story: Stephen Foxwell at sfoxwell@bloomberg.net.

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