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Market Research Report : Container rail market in India 2012
Market Research Report : Container rail market in India 2012
Market Research Report : Container rail market in India 2012
Market Research Report : Container rail market in India 2012
Market Research Report : Container rail market in India 2012
Market Research Report : Container rail market in India 2012
Market Research Report : Container rail market in India 2012
Market Research Report : Container rail market in India 2012
Market Research Report : Container rail market in India 2012
Market Research Report : Container rail market in India 2012
Market Research Report : Container rail market in India 2012
Market Research Report : Container rail market in India 2012
Market Research Report : Container rail market in India 2012
Market Research Report : Container rail market in India 2012
Market Research Report : Container rail market in India 2012
Market Research Report : Container rail market in India 2012
Market Research Report : Container rail market in India 2012
Market Research Report : Container rail market in India 2012
Market Research Report : Container rail market in India 2012
Market Research Report : Container rail market in India 2012
Market Research Report : Container rail market in India 2012
Market Research Report : Container rail market in India 2012
Market Research Report : Container rail market in India 2012
Market Research Report : Container rail market in India 2012
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Market Research Report : Container rail market in India 2012

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For the complete report, get in touch with us at : info@netscribes.com …

For the complete report, get in touch with us at : info@netscribes.com


Growth in international trade provides huge impetus to the growth in container rail market. Indian Railways earns the lions share from rail freight revenue owing to its dynamic tariff policy. With the privatization of the container rail service, rail freight gains popularity providing further scope for capturing higher market share.

The report begins with an introduction section, listing down the basic statistics of Indian Railways as of Feb, 2012, followed by the value chain of the rail freight market.

Market overview section provides a brief snapshot of the Rail Transport Market. This section includes the market size of the rail freight market in India in terms of freight revenue earning by value and freight revenue earning by volume over the period (Apr – Dec) 2009-10 and (Apr – Dec) 2011-12, demonstrating the corresponding share of freight commodities in the year (Apr – Dec) 2011-12. The section then lists the tonnage and earnings share of the top 30 freight commodities in 2010-11. Some efficiency indices of the rail freight operation are also given in this section.

The next section deals with the revenue generation of Indian Railways from rail freight earning. A snapshot is mapped followed by the illustration of the revenue earning by value and by volume in the 16 zonal railways in the last three years. The section then proceeds with the freight loading of the 9 major commodities in 2011-12, added with their future prospects. The projected freight loading by Indian Railways by 2020 is also shown here.

Freight services initiatives section highlights the initiatives for freight services and initiatives for the dedicated freight corridor.

Freight marketing schemes section describes the existing schemes undertaken by the Indian Railways for improving its freight marketing.

Vision 2020 section points the plans by Indian Railways for 2020 followed by its short term & long term targets. Technology, development of human capital and a culture of innovation along with availability of adequate resources will aid Indian Railways to achieve its targets. The operational strategies needed to achieve these goals are also briefly described here.

Drivers and challenges section in the report provides a comprehensive set of factors which boosts and hinders the growth in the market. An analysis of the section brings forth the key drivers fueling growth in the market including shift from road to rail by private players, increasing export-import, dynamic tariff policy and opportunity in emerging sector. While the challenges identified comprises of service quality, increase in rail freight rates and problems with connectivity.

The competition section profiles the container rail players in details within the report which enables readers to get a clear picture of the current competitive scenario.

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  • 1. Insert Cover Image using Slide Master View Do not distortRail Transport Market – IndiaJune 2012
  • 2. Executive Summary  Indian Railways has generated INR xx bn freight earning in the first 9 months (Apr ‐ Dec) of 2011‐12 with xx%  CAGR over the period 2009‐10 and 2011‐12 Market  Indian Railways has loaded yy MT freight loading in the first 9 months (Apr ‐ Dec) of 2011‐12 with yy% CAGR  over the period 2009‐10 and 2011‐12 Drivers Challenges – Shift from Road to Rail by Private Players – Service Quality Drivers &  Challenges SAMPLE  – Increasing Export‐Import – Dynamic Tariff Policy – Opportunity in Emerging Sector – Increase in Rail Freight Rates – Problems with Connectivity  Marketing for Freight  Freight BusinessOperational   Infrastructure Strategy  Information Technology  Rolling stock (Electrical)  Rolling Stock (Mechanical) Major Players Container Corporation of India Ltd.  Gateway Rail Freight Hind Terminals Ltd.Competition (Concor) Ltd (GRFL) (MSC Group) India Infrastructure & Logistics Pvt  Container Rail Road Services Pvt.  Arshiya Rail Ltd (APL) Ltd (DPW) Infrastructure Ltd. RAIL TRANSPORT MARKET IN INDIA 2012.PPT 2
  • 3. •Introduction•Market Overview•Revenue Generation Zone Wise Income Commodity Wise Income•Freight Services Initiatives•Freight Marketing Schemes•Vision 2020 Operational Strategy •Drivers and Challenges•Competition•Future Requirements & Investments •Strategic Recommendation•Appendix  RAIL TRANSPORT MARKET IN INDIA 2012.PPT 3
  • 4. Indian Railways ‐ Basic Statistics SAMPLE  • Indian Railways (IR) is the world’s 4th largest rail network and the 2nd largest in Asia • IR also happens to be the world’s fourth largest freight carrier • Rail freight in India, particularly container rail operations which was primarily controlled by government has been opened to  private operators since 2006 in order to bring competition in the rail freight market • Entry of private and public sector operators is permitted by Ministry of Railways to get licenses for running container trains on  the IR network Basic Statistics of Indian Railways (as of Feb, 2012) No. of railway stations 7,083 No. of railway bridges 1, 31,205 No. of locomotives 9000 No. of freight cars 2,19,931 No. of route kilometers 63,974 No. of trains each day 19,000 No. of freight trains per day 7,000 Freight traffic per day 2.65 MT No. of employees 1.36 mn Annual revenue base INR 1, 060 bn Freight Rates • From 1st Apr 2010, ‘Inflation Concession’ of INR 100 per wagon is approved on booking of food grains for domestic use and  Kerosene Oil • From 27th Dec 2010, the taper of the Base Class‐100 was rationalized resulting in increase in freight rates ranging from 0.15% to  3.95% from 101 to 500 kms and 4% beyond 500 kms which did not increase in freight rates of food grains and chemical  manures • Revision of classification of sugar and de‐oiled cakes from Class‐110 to Class‐120 RAIL TRANSPORT MARKET IN INDIA 2012.PPT 4
  • 5. SAMPLE Rail Transport (Freight) Market – Value Chain Rail Infrastructure  Rail Freight  Manager Operator Distributor Other Modes of  Freight Transport Logistic Company  Freight Forwarder (eg. Road) Freight Mode Transfer Destination Terminal Buyers RAIL TRANSPORT MARKET IN INDIA 2012.PPT 5
  • 6. Freight earning by Indian Railways grew at about 8% CAGR over the period 2009‐10 and 2011‐12Rail Transport Market – Overview• Earnings from freight traffic (including ‘Other Goods Earnings’ such as wharfage, demurrage, etc.) by Indian Railways  increased to INR xx bn in the first 9 months (Apr ‐ Dec) of 2011‐12 up by INR yy bn from the earnings in the  SAMPLE  corresponding period of the previous year• Nine major commodity groups, namely coal, iron and steel, iron ore ( both for export and domestic steel plants), other  raw materials for steel plants, cement, food grain, fertilizer, petroleum products and container traffic dominates the  freight basket of Indian Railways   Bulk freight like coal, pig iron and finished steel, iron ore, cement, foodgrains, fertilizers and POL products contributed 86% of the total  goods earnings in the first 9 months (April December) of 2011‐12 , while commodities other than the above accounted for 14%Market Size ‐ Freight Earning (By Value) Market Split ‐ Freight Earning a f INR bn b g Xx% 1.7% a c h 5.7% b d i 41.0% 11.8% c 9.6% e j d 5.3% 6.4% e 6.2% 5.1% 0 7.3% 2009‐10 2010‐11 2011‐12Note: Years correspond to Apr‐Dec period                    Data taken for ‘raw materials for steel plants’ does not include iron ore RAIL TRANSPORT MARKET IN INDIA 2012.PPT 6
  • 7. Efficiency Indices ‐ Freight OperationEfficiency Indices of Freight Operation  SAMPLE  Description 2007‐08 2008‐09 2009‐10 2010‐11 BG (Broad Gauge)Net tonne kilometres per wagon per day MG (Meter Gauge) BG Wagon kilometres per wagon per day MG Diesel ‐ BG  Net tonne kilometres per engine hour Diesel ‐ MG Electric ‐ BG Diesel ‐ BG  Net tonne kilometres per engine day on  line Diesel ‐ MG Electric ‐ BG+ in terms of 8‐wheelers* revised RAIL TRANSPORT MARKET IN INDIA 2012.PPT 7
  • 8. SAMPLE Indian Zonal Railways ‐ Snapshot Central Railway East Central Railway East Coast Railway Eastern Railway North Central Railway North Eastern Railway North Western Railway Northeast Frontier Railway  Northern Railway South Central Railway South East Central Railway South Eastern Railway South Western Railway Southern Railway West Central Railway Western Railway RAIL TRANSPORT MARKET IN INDIA 2012.PPT 8
  • 9. Zonal Railways in India (x/x)Central Railway – Overview• Central Railway covers a large part of the state of Maharashtra and parts of North‐Eastern Karnataka and Southern  Madhya Pradesh• It covers 3905.47 km of route network with 5975.33 km of track linking 477 stations  SAMPLE • It is divided into five divisions: Mumbai, Pune, Bhusawal, Nagpur and  Solapur • Freight business ‐ major commodities carried are coal, imported coal, cement, petroleum products, indigenous  fertilizers, sugar, containers, and onion etc. Freight Revenue Earning Profile (By Value) Freight Loading Profile (By Volume) INR bn MT a a b b 8.84 c 9.76 9.53 0.00 0.17 c 20.03 18.76 17.34 0.37 0.34 3.38 d 2.44 2.45 0.60 1.50 0.00 0.53 1.47 0.59 1.52 0.30 0.02 0.01 0.18 e 2.00 2.20 2.52 d 4.22 0.3 0.0 4.18 5.37 1.80 0.63 1.93 0.80 2.69 1.91 0.84 6.36 2.24 2.48 6.65 6.36 e f 8.74 8.09 8.05 2.79 2.89 3.90 2.97 3.00 3.69 0 0 2009‐10 2010‐11 2011‐12 2009‐10 2010‐11 2011‐12 a c e g i b d f h jNote: Years correspond to Apr‐Dec period RAIL TRANSPORT MARKET IN INDIA 2012.PPT 9
  • 10. xxxCoal – Overview Coal Usage – Segments (2011‐12)• In 2011‐12 (Apr ‐ Dec), IR carried xx MT of coal, 65% of  the quantity being for thermal power stations, 11% for  10.5% steel plants and the rest for other industries and public  23.7% a c 0.4% use b d SAMPLE • Maximum coal is loaded by South East Central Railways  followed by east Central railways in 2011‐12 as sources  of coal would be ever more restricted to South‐eastern  Coalfield and Mahanadi Coalfields  65.4%Coal Loading (By Volume) ‐ (2011‐12) MT a b c d e f g 0 Central East  East Coast Eastern Northeast  Northern South  South East  South  South  Southern Western Total Central Frontier  Central Central Eastern WesternNote: Years correspond to Apr‐Dec period RAIL TRANSPORT MARKET IN INDIA 2012.PPT 10
  • 11. SAMPLE Initiatives for Freight Services (x/x) Segregation of freight and  passenger corridors Meeting  customers needs in  Construction of service delivery, logistics  dedicated freight corridors services, transit time & tariff Initiatives  for Freight  Services Cost‐efficiencies in bulk transport Improving the transit speed  RAIL TRANSPORT MARKET IN INDIA 2012.PPT 11
  • 12. Schemes for Freight Marketing (x/x) Special Freight Train Wagon Investment  Wagon Leasing  Terminal Development Operator Scheme (SFTO) Scheme Scheme (WLS) Scheme (TDS)• xxx • xxx • xxx • xxx SAMPLE  RAIL TRANSPORT MARKET IN INDIA 2012.PPT 12
  • 13. Drivers & Challenges – Summary  Challenges Drivers Service Quality Shift from Road to Rail by Private  Players Increase in Rail Freight Rates Increasing Export‐Import Problems with Connectivity Dynamic Tariff Policy Opportunity in Emerging Sector RAIL TRANSPORT MARKET IN INDIA 2012.PPT 13
  • 14. Scope for capturing higher market share as rail freight gains popularity…Shift from Road to Rail by Private Players (1/2) Impact• Entry of private players in container rail business has intensified the competition and improved  the efficiency in container rail services• Privatization of container rail operations has attracted 16 players SAMPLE   With 500 rakes expected to be operational by 2013 and full utilization level container rail operators expects  to achieve 3% of the overall freight market by trying to shift volumes from road to rail  Container rail industry has a capacity of about 300 rakes, of which Concor accounts for 220 rakes while the  rest are with private players• Private players with huge investments in the container rail business are planning for further  investments  Operators need to invest heavily in hard infrastructure such as rakes, terminals (ICDs/ rail sidings),  containers, container handling equipment (reach stackers, etc) as also truck‐related and software  investments in order to offer integrated, value‐added logistics solutions with last mile connectivity to shift  volumes from road to rail  To earn economies of scale and profitability operators need appropriate asset turnaround time and  utilization levels  Share of Freight handled ( 2011‐12) Air Freight Sea Freight 15.6% Rail Freight 0.1% 28.1% Only about 28% of the  Huge scope in rail  freight is transported by  freight due to its  Indian Railways, while  cheaper mode of  the remaining gets  transportation and  transported via road, air  lower penetration level 56.2% and sea Road Freight RAIL TRANSPORT MARKET IN INDIA 2012.PPT 14
  • 15. Increase in rail freight charges likely to put negative impact on the manufacturing sector in IndiaIncrease in Rail Freight Rates  Impact• Increase in service tax rate to 12.3% from 10.3% in the 2012‐13 budget brings a huge burden on  rail freight with an expected rise of about 3.6% in rail freight rates from July, 2012  Service tax will be imposed on 30% of the value of input goods and services  Commodities such as coal, cement, gypsum, steel and iron comprising 70% of the freight traffic will become  expensive following the additional levy SAMPLE • Increase in rail freight is adversely affecting the states like Punjab which is away from the coasts  Punjab industry which is far from the coasts and also from the raw material is facing fierce competition  from the other states which are near the coasts• Products made in Punjab will become highly expensive for the other states as it is a net exporter  selling almost 80% of its production to other states  Steel prices will rise by 2%• Exporters are also adversely affected with the increase in the freight rates in all commodities• Increase in rail freight rates by Railway Ministry – Steel 15% ‐ 37% Domestic Iron Ore 50% Coal & Cement 18% ‐ 24% Food grains &  Fertilizer 20% ‐ 35% Increase in  Increase in  Increase in the power  Losing competitiveness coal freight manufacturing cost  prices in Punjab  in manufacturing in India  Adverse impact on future  thermal power plants in Punjab   RAIL TRANSPORT MARKET IN INDIA 2012.PPT 15
  • 16. Public: Domestic Company – Player A (1/3)Company Information SAMPLE  Offices and Centres – India Corporate AddressTel No.Fax No. New DelhiWebsiteYear of IncorporationTicker SymbolStock Exchange Head OfficeProducts and ServicesCategory Products/Services Key People Name Designation RAIL TRANSPORT MARKET IN INDIA 2012.PPT 16
  • 17. Public: Domestic Company – Player A (2/3) Financial Snapshot SAMPLE  Key Ratios y‐o‐y change  Total Income Particulars  2011 2010 2009 2008 INR mn INR mn (2011‐10) Net Profit/Loss Profitability Ratios60000 40862.4 10000 35213.1 36490.6 39053.8 Operating Margin 0.34 21.77% 21.43% 22.56% 22.04%40000 Net Margin 1.54 21.45% 19.91% 21.35% 20.85% 5000 Profit Before Tax Margin 0.36 25.91% 25.56% 27.80% 26.42%20000 Return on Equity ‐0.35 17.74% 18.10% 20.88% 23.19% Return on Capital Employed ‐1.29 17.10% 18.39% 20.71% 22.90% 0 0 Return on Working Capital ‐2.38 38.22% 40.59% 50.73% 54.32% 2008 2009 2010 2011 Return on Assets 0.20 15.19% 14.99% 16.94% 18.64% Financial Summary  Return on Fixed Assets 0.37 32.82% 32.46% 35.08% 39.34% Cost Ratios • The company earned a net profit of INR 8,800 mn in FY 2011, as  Operating costs (% of Sales) ‐0.42 77.14% 77.57% 76.15% 76.93% compared to net profit of INR 7,800 mn in FY 2010 Administration costs (% of  ‐0.68 2.32% 3.00% 2.99% 2.09% • The company reported total income of INR 40,900 mn in FY 2011,  Sales) Interest costs (% of Sales) 0.00 0.00% 0.00% 0.00% 0.00% registering an increase of 4.6% over FY 2010 Liquidity Ratios • The company earned an operating margin of 21.77% in FY 2011, an  Current Ratio 26.33% 5.06 4.00 3.46 3.46 increase of 0.34 percentage points over FY 2010 Cash Ratio 28.71% 4.41 3.43 3.10 2.99 • The company reported debt to equity ratio of 0.17 in FY 2011, a  Leverage Ratios decrease of 18.96% over FY 2010 Debt to Equity Ratio ‐18.96% 0.17 0.21 0.23 0.24 Debt to Capital Ratio ‐48.04% 0.01 0.02 0.04 0.05 Key Financial Performance Indicators Interest Coverage Ratio N.A. N.A. N.A. N.A. N.A. Indicators Value (dd/mm/yyyy) Efficiency Ratios Market Capitalization (INR mn) 113,3 00 Fixed Asset Turnover ‐6.37% 1.46 1.56 1.55 1.80 Asset Turnover ‐6.17% 0.67 0.72 0.75 0.85 Total Enterprise Value (INR mn) 91,000 Current Asset Turnover ‐6.79% 1.36 1.46 1.60 1.77 EPS (INR) 69.13 Working Capital Turnover ‐12.84% 1.70 1.95 2.25 2.49 PE Ratio (Absolute)‐8th June,  Capital Employed Turnover ‐9.22% 0.79 0.87 0.93 1.06 12.62 2012 Improved Decline RAIL TRANSPORT MARKET IN INDIA 2012.PPT 17
  • 18. Key Business Segments SAMPLE Public: Domestic Company – Player A (3/3) Key Geographic Segments a b c India INR mn 33,645 34,524 37,057 38,281100% 1% 1% 0% 0% 100% 21% 20% 22% 22% India is the only geographic  segment in which the  50% 50% 100% company has been operating  79% 79% 78% 78% for the last five years 0% 0% 2008 2009 2010 2011 2011Business HighlightsDescription  NewsOverviewCost RisePartnerships RAIL TRANSPORT MARKET IN INDIA 2012.PPT 18
  • 19. Major Private Companies ‐ Summary SAMPLE  Size of the Bubble represents Total Assets Net Profit/Loss in INR mn 600 400 4,693 200 1,875 5,370 0 1,666 2,369 2,581 ‐200 ‐400 3,344 7,015 7,197 ‐600 3,574 ‐800 2,778‐1,000‐1,200 Total income 0 500 1,000 1,500 2,000 2,500 3,000 3,500 4,000 4,500 a c e g h i b d f j l k Note: All figures are in INR mn and are based on the latest financials available RAIL TRANSPORT MARKET IN INDIA 2012.PPT 19
  • 20. Private: Domestic Company – Player B (1/3)Company Information SAMPLE  Offices and Centres – India Corporate Address GurgaonTel No.Fax No.WebsiteYear of Incorporation Head OfficeProducts and ServicesCategory Products/Services Key People Name Designation RAIL TRANSPORT MARKET IN INDIA 2012.PPT 20
  • 21. Private: Domestic Company – Player B (2/3)Financial Snapshot SAMPLE  Key Ratios y‐o‐y change  Total Income Net Profit/Loss Particulars  (2011‐10) 2011 2010 2009 2008 INR mn INR mn Profitability Ratios Operating Margin 11.33 158.76% 147.43% 85.78% 85.47%1500 1376.6 0 Net Margin 2.84 ‐39.51% ‐42.35% ‐34.24% ‐12.04% 1169.3 Profit Before Tax Margin 14.83 ‐3.54% ‐18.36% ‐33.73% ‐13.47%1000 ‐200 Return on Equity ‐1.56 ‐17.44% ‐15.88% ‐13.03% ‐2.17% 559.6 Return on Capital Employed 6.47 32.09% 25.62% 10.24% 8.61% Return on Working Capital ‐9.23 ‐47.77% ‐38.55% ‐14.12% ‐32.91%500 ‐400 222.9 Return on Assets ‐0.61 ‐7.75% ‐7.14% ‐3.95% ‐1.20% Return on Fixed Assets ‐0.73 ‐11.84% ‐11.11% ‐19.23% ‐544.86% 0 ‐600 Cost Ratios 2008 2009 2010 2011 Operating costs (% of Sales) ‐3.12 ‐84.18% ‐81.06% 13.85% 14.36% Administration costs (% of  ‐0.29 4.97% 5.27% 5.22% 1.90% Sales)Financial Summary  Interest costs (% of Sales) ‐24.46 8.02% 32.48% 0.00% 0.00%• The company incurred a net loss of INR 543.89 mn in FY 2011,  Liquidity Ratios Current Ratio ‐10.05% 6.57 7.31 9.15 3.87 as compared to net loss of INR 495.22 mn in FY 2010 Cash Ratio 3.39% 6.02 5.82 8.58 2.69• The company reported total income of INR 1,376.65 mn in FY  Leverage Ratios 2011, registering an increase/decrease of 17.7% over FY 2010 Debt to Equity Ratio 4.88% 1.25 1.19 2.31 0.81 Debt to Capital Ratio 2.17% 0.56 0.54 0.70 0.45• The company earned an operating margin of 158.76% in FY  Interest Coverage Ratio 311.83% 22.96 5.57 N.A. N.A. 2011, an increase of 11.33 percentage points over FY 2010 Efficiency Ratios• The company reported debt to equity ratio of 1.25 in FY 2011,  Fixed Asset Turnover 20.93% 0.26 0.21 0.56 45.17 Asset Turnover 23.15% 0.17 0.14 0.11 0.10 an increase of 4.88% over FY 2010 Current Asset Turnover 38.14% 0.88 0.64 0.37 2.02 Working Capital Turnover 40.63% 1.04 0.74 0.41 2.73 Capital Employed Turnover 24.62% 0.38 0.31 0.38 0.18 Improved Decline RAIL TRANSPORT MARKET IN INDIA 2012.PPT 21
  • 22. SAMPLE Private: Domestic Company – Player B (3/3)Business HighlightsDescription  NewsOverviewInvestment PlansProjects RAIL TRANSPORT MARKET IN INDIA 2012.PPT 22
  • 23. SAMPLE Modernization Initiatives & Investment Requirements• Based on the five‐pronged strategy ‘15 focus areas’ were  identified in order to drive modernization  1.0 Track Stations &Core Assets Signaling Rolling Stock And Bridges Terminals Dedicated Freight High SpeedRevenue Models PPPs Land Corridors TrainsProjects Review of existing and proposed ProjectsEnablers ICT Indigenous Development Safety 15.0Resources Funding Human Resource Organization Total Investment Requirements for Modernization INR bn6,000 5,603 330 6% a d g5,000 250 725 17.3% b e h4,000 12.9% c f i 1,1003,000 13 170 52,000 2,040 36.4% 0.1% 19.6% 0.2%1,000 3.0% 970 0 RAIL TRANSPORT MARKET IN INDIA 2012.PPT 23
  • 24. Thank you for the attentionThe Rail Transport Market – India report is part of Netscribes’ Transport & Logistics Series.For more detailed information or customized research requirements please contact:Phone: +91 33 4064 6214E‐Mail: sales@netscribes.comFollow us on:About NetscribesNetscribes is a knowledge‐consulting and solutions firm with clientele across the globe. The company’s expertise spans areas of investment & business research, business & corporate intelligence, content‐management services, and knowledge‐software services. At its core lies a true value proposition that draws upon a vast knowledge base. Netscribes is a one‐stop shop designed to fulfil clients’ profitability and growth objectives.Disclaimer: This report is published for general information only. Although high standards have been used in the preparation, “Netscribes” is not responsible for any loss or damage arising from use of this document. This document is the sole property of Netscribes and prior permission is required for guidelines on reproduction. RAIL TRANSPORT MARKET IN INDIA 2012.PPT 24

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