Lalu lays foundation stone of Rly Mngt Institute

New Delhi, Mar 22: In pursuit of making India the global hub for international railway managers, Railway Minister Lalu Prasad today laid the foundation stone of an International Railway Strategic Management Institute (IRSMI) here, aimed at upgrading skills of officers at middle and senior levels.

Mr Prasad, who laid the foundation stone through a remote control at a two-day Global Rail Freight Conference, said there was a need for an excellent reservoir of managerial talent in the railway sector in view of the integration of transport networks and overcoming of physical and non-physical barriers.

''The success story of Indian railways has attracted the attention of global management institutes towards the possibility of conducting detailed studies about the railway sector and strategies and managerial skills, which makes it possible for a mammoth government organisation with social obligations to run on commercial principles,'' he said.

Mr Prasad said IRSMI, the first of its kind institute anywhere in the world, would become a premier institute for developing leaders in the rail industry and would also become a ''temple of knowledge'' in the coming years.

The setting up of the IRSMI at Dhaula Kuan in South Delhi was announced by Mr Prasad during the presentation of his Railway Budget, 2007-08 in Parliament.

He said the institute, to be set up under the aegis of the Paris-based UIS (International Union of Railways), would provide international training facilities in cooperation with top business schools across the globe to railway professionals.

''This will make India a centre for providing trained manpower to rail companies across the globe and prepare international railway managers to meet the future challenges in rail operations, including global rail operation through identified corridors,'' he said.

The institute is to be made fully operational by 2010 with an independent infrastructure. At any point of time, it would not have more than 60 trainees. It will comprise four classrooms having state -of-the art equipment with a capacity of 40 students each.

Initial seed capital for the institute has been contributed by India, South Africa and Saudi Arabia with a contribution of 2.5 million euros each. In addition, Indian Railways have agreed to incur Rs 22 crore on the setting up of its infrastructure.

Railway Board Chairman J P Batra, the first non-European Chairman of UIS, said this would be the first such institute to be set up under the aegis of UIC anywhere in the world.

''Greatly impressed by the idea, Iranian Railways and Korean Railways have also decided to set up a similar institute within their country,'' he said.

The first course of Senior Managers was conducted in May 2005 with a three-week module in Paris and Vadodara. Till now, two such courses have been organised in support with HEC, Paris.

UNI