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IR’s vision is to be a key driver in this mission, spread across 9 themes -
1. Create a 3X bigger IR that is economically viable : This entails leveraging INR 8,50,000 Cr. of capex to expand the railways infrastructure to support the aspirational modal mix in freight volumes.
2. Ensure every train journey for Indian citizen is a pleasurable experience : This would mean fundamentally redefining the customer value proposition by positioning key metrics like cleanliness, convenience, punctuality and service orientation.
3. Making IR the preferred freight carrier : IR’s aim is to increase its modal share to 37% , in the next 10 years, through dynamic pricing, key account management, expansion of the freight basket and incorporation of a customer focused approach.
4. Dramatically improve non-fare revenues through advertising and real estate : For the next 5 years, the aim is to increase non-fare revenue to 15%, by fully redeveloping at least 100 stations, getting full potential from advertising and innovative measures to monetize other assets and services.
5. Move towards near zero fatalities on IR : In the next 5 years, IR wants to move to near zero fatalities. The action plan for the same involves mobilizing resources to introduce technological interventions and infrastructure upgrades.
6. Modernize IR by using best-in-class technology : IR intends to evaluate root cause of its sedate progress in adopting best-in-class technology, thereby introducing policy interventions to embark on its journey to modernization.
7. Foster collaborative, agile and innovate culture in IR : IR aims to leverage global as well as internal experience to come up with big shifts to foster collaborative, agile and innovative railways, thereby enhancing cross-functional collaboration and build mechanisms for building and sustaining these capabilities.
8. Significantly improve cost positions across functions : IR is aiming to decrease operational cost by 10% in the next 5 years. This will involve focusing on variable and fixed cost reduction while improving overall operational efficiency.
9. Environmental sustainability : India as a nation is looking to move towards a model of sustainable development, IR intents to play its part in this with a focus on exploring alternative energy sources.
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