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India
Coverage: 16 regions live, 71 buyers, 129 tenders, checked 2026-09-06.
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Key figures
2 sources · 1 primary
- ● PIB / Ministry of Railways · Union Budget rail capex FY2025-26 briefing (published 2025-02 · checked 2026-06-22)
- ○ PRS Legislative Research · Demand for Grants 2025-26 — Railways (published 2025 · checked 2026-06-22)
1 source · primary
- ● PIB · India's Metro Revolution (1,000 km milestone) (published 2025-08 · checked 2026-06-22)
How the market works
Indian rail is two systems with two ministries. Mainline rail is Indian Railways — a departmental undertaking run by the Railway Board under the Ministry of Railways through 17+ zonal railways and production units, with PSUs (RVNL, IRCON, RITES, IRFC, RailTel) and SPVs (DFCCIL, NHSRCL) executing and financing. Urban metros are 50:50 Centre–state joint-venture SPVs under the Ministry of Housing and Urban Affairs' Metro Rail Policy 2017, plus state SPVs and the odd PPP concession. Rolling stock comes from IR production units (ICF, CLW) and a growing private and JV industry; multilateral lenders (JICA, ADB) finance most metro lines.
- Ministries and the Railway Board
- Zonal railways and production units
- National SPVs and corridors
- Metro corporations and state SPVs
- Executing agencies and concessions
- Funders
Programmes
- KAVACH
- Indian Railways' automatic train protection programme (KAVACH 4.0 rollout); tags bodies that buy or specify it.
States
| State | Coverage |
|---|---|
| Maharashtra | 11 buyers · 12 tenders |
| Delhi-NCR | 10 buyers · 10 tenders |
| Karnataka | 3 buyers · 11 tenders |
| Tamil Nadu | 5 buyers · 9 tenders |
| Gujarat | 4 buyers · 9 tenders |
| Telangana | 5 buyers · 6 tenders |
| Uttar Pradesh | 3 buyers · 7 tenders |
| West Bengal | 7 buyers · 5 tenders |
| Madhya Pradesh | 3 buyers · 11 tenders |
| Kerala | 5 buyers · 6 tenders |
| Assam | 3 buyers · 5 tenders |
| Bihar | 3 buyers · 7 tenders |
| Rajasthan | 4 buyers · 9 tenders |
| Odisha | 3 buyers · 8 tenders |
| Andhra Pradesh | 2 buyers · 8 tenders |
| Haryana | 6 buyers · 6 tenders |
Most active buyers
| Buyer | Type | State | Tenders | Contracts awarded |
|---|---|---|---|---|
| Madhya Pradesh Metro Rail Corporation Limited | Metro corporation | Madhya Pradesh | 10 | 12 |
| Chennai Metro Rail Limited | Metro corporation | Tamil Nadu | 8 | 8 |
| Bangalore Metro Rail Corporation | Metro corporation | Karnataka | 6 | 6 |
| National High Speed Rail Corporation Limited | High-speed rail SPV | Gujarat, Maharashtra | 6 | 6 |
| Delhi Metro Rail Corporation | Metro corporation | Delhi-NCR, Bihar | 8 | 3 |
| Uttar Pradesh Metro Rail Corporation Limited | Metro corporation | Uttar Pradesh | 5 | 6 |
| Mumbai Metropolitan Region Development Authority | Development authority | Maharashtra | 4 | 6 |
| Gurugram Metro Rail Limited | Metro corporation | Haryana | 4 | 5 |
Market-wide buyers
Bodies that act across the whole market rather than in one state.
| Buyer | Type | Detail |
|---|---|---|
| Ministry of Housing and Urban Affairs | National rail HQ | Union ministry — urban metro policy and 50:50 JV equity |
Live tenders
| Tender | Buyer | Status | Value band | Next key date |
|---|---|---|---|---|
| 15 additional electric ferries retender | KWML | Retender | value not published |
Recently awarded
| Tender | Buyer | Status | Value band | Next key date |
|---|---|---|---|---|
| KAVACH trackside deployment Jabalpur division | WCR | Awarded | ₹450–500 cr | Awarded February 2026 |
| Lucknow Phase 1B elevated 4.6 km 5 stations | UPMRC | Awarded | ₹350–400 cr | Awarded May 2026 |
| E&M systems Corridor 3 | CMRL | Awarded | $5.81–11.6M (₹50–100 cr) | Awarded March 2026 |
| HORC SYS-2A Dhulawat Manesar telecom | HRIDC | Awarded | ₹50–100 cr | Awarded June 2026 |
| MRL elevators escalators Lucknow Kanpur Agra metros | UPMRC | Awarded | $5–25m | Awarded September 2026 |
| Signalling 5th/6th lines Borivali–Virar MUTP-3A | MRVC | Awarded | $23.3–29.1M (₹200–250 cr) | Awarded February 2026 |
| JCDD-02 detailed design civil architectural Phase 2 | RMRCL | Awarded | value not published | Awarded May 2026 |
| MAHSR rolling stock maintenance machinery | NHSRCL | Awarded | value not published | Awarded August 2026 |
Who holds the most
Recorded contracts, supply positions and partnerships in this market.
Where to meet the market
| Event | Kind | City | Dates | Organiser |
|---|---|---|---|---|
| InnoRail India 2026 | Trade fair | Lucknow, Uttar Pradesh | 26–28 November 2026 | CII with RDSO (Ministry of Railways) |
| 8th Rail & Metro Technology Conclave & Expo 2027 | Conference | New Delhi | July 2027 | Rail Analysis (Projections Strategy LLP) |
| RailTrans Expo 2027 | Trade fair | New Delhi | 1–3 July 2027 | Urban Infra Group |
| IREE 2027 | Trade fair | New Delhi | October 2027 | CII with the Ministry of Railways |
What changed
From This Week in Rail, newest first.
- 2026-09-28 — Chennai Metro Phase 2's tunnel-boring machine Kaveri completes a breakthrough at KMC station.
- 2026-09-28 — AECOM is appointed detailed design consultant for Ahmedabad Metro Phase 3A.
- 2026-09-28 — Asa Bhanu wins a ₹40.59 crore rolling-stock maintenance contract for Nagpur Metro.
- 2026-09-28 — A Nippon Koei-led joint venture is awarded a ₹275 crore consultancy contract for the Patna Metro Rail Project.
- 2026-09-28 — Delhi Metro Phase V tenders the 4.94km underground Central Vista corridor.
Withheld in the free surface
- Procurement routes (4)
- Notes
Full detail withheld: 2 fields. In the India edition · See a fully open example
- Capex note
- Metro detail
Full detail withheld: 2 fields. In the India edition · See a fully open example
Sources
- ● Ministry of Housing and Urban Affairs · Metro Rail Policy 2017 (copy hosted by NCRTC) (published 2017-08 · checked 2026-09-06)
- ● PIB / Ministry of Railways · Union Budget rail capex FY2025-26 briefing (published 2025-02 · checked 2026-06-22)
- ● PIB · India's Metro Revolution (1,000 km milestone) (published 2025-08 · checked 2026-06-22)
- ○ PRS Legislative Research · Demand for Grants 2025-26 — Railways (published 2025 · checked 2026-06-22)
All players · All events · All programmes
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Compiled by Watchtower to editorial standards the Managing Partner sets and enforces. Public record only — every datum carries its source.