Indian railways will have a share of 40 per cent of the total global rail activity and save around USD 64 billion on fuel bills by 2050, a report by a Paris-based inter-governmental organisation has said.
The report -- The Future of Rail Opportunities for energy -- released on Wednesday by the International Energy Agency said the annual investment in rail infrastructure will increase to USD 330 billion in 2050 globally, on the basis of projects currently in various stages of construction and planning.
"Rail activity in India is set to grow more than any other country, with passenger movements in India reaching 40 per cent of global activity... The biggest part of the increased investment goes to infrastructure for urban rail (nearly USD 190 billion) and high-speed rail (USD 70 billion); the additional costs of the trains are small in comparison.
"As a result of these investments, in 2050 fuel expenditures are reduced by around USD 450 billion, relative to the base scenario. India could save as much as USD 64 billion on fuel expenditures by mid-century," the report stated.
The report also stated that the pace of infrastructure build is fastest in urban rail. The length of metro lines under construction or slated for construction over the coming five years is twice the length of those built over any five-year period between 1970 and 2015. The result, it said is unprecedented growth in passenger movements on urban rail.
Global activity in 2050 is 2.7 times higher than current levels, it said.
"Growth is strongest in India and Southeast Asia, which see more than a seven fold growth in passenger movements on urban rail, albeit from a low baseline. In the three countries with the highest urban rail activity today, activity increases by more than threefold in China, 25% in Japan and 45% in the European Union," it said.