Indian Railways could turn more than 500 old diesel engines into a new export opportunity as electrification changes the role of its diesel fleet.

In this episode of The Core Report Weekend Edition, Financial Journalist Govindraj Ethiraj speaks with Rahul Mithal, Chairman and Managing Director of RITES LTD, about diesel locomotive exports, India’s infrastructure investment and the business of finding new markets for existing railway assets.According to Mithal, more than 500 diesel locomotives have around 15 to 20 years of working life remaining. Refurbishing and adapting these engines for overseas networks could generate revenue for Indian Railways while giving buyers locomotives at around two-thirds the cost of new ones.RITES is targeting opportunities across 11 African countries that use Cape gauge railway networks. Mithal says its first two converted locomotives are ready for shipment, with overseas trials expected to help establish the opportunity. The company has also secured an order for a standard gauge locomotive for Australia.But turning old diesel engines into export winners involves more than changing the wheels. Mithal explains how engineers adapt underframes, bogies, wiring and control systems to make Indian locomotives work on different railway gauges. The commercial potential depends on translating that engineering into reliable products and repeat orders.The conversation also examines why India’s infrastructure projects run over time and budget. Mithal argues that spending more time and resources on Detailed Project Reports could reduce disputes, improve cost estimates and prevent capital from getting locked up in delayed projects.Artificial intelligence could help improve both planning and quality control. RITES is developing a tool using its archive of more than 5,000 project reports and has introduced VISTAR, an AI inspection system for rails during manufacturing.Beyond diesel locomotive exports, Mithal discusses plans to develop Vande Bharat trains for standard gauge export markets and pursue electric locomotive export orders. He also explains how the India–UAE virtual trade corridor could improve cargo information exchange, customs clearance and port efficiency.Could engines that India needs less become valuable assets in overseas markets?Watch the full conversation for insights into Indian Railways, RITES, locomotive refurbishment, railway exports, infrastructure planning, Vande Bharat, artificial intelligence, the IMEC corridor and India’s logistics economy.Chapters01:05 RITES' Role in India's Infrastructure Development02:59 Diversifying Beyond Indian Railways04:12 Order Growth and Global Expansion05:48 High-Speed Rail, Metro and Infrastructure Projects07:36 Why Infrastructure Projects Face Cost Overruns09:49 Challenges in Detailed Project Planning11:26 Using AI to Improve Project Reports13:51 The Economic Cost of Poor Infrastructure Planning15:30 Improving Project Design and Execution17:10 Converting Indian Locomotives for Export19:43 The Engineering Behind Locomotive Conversion21:40 Understanding India's Railway Gauge Network22:39 AI, Rail Safety and Network Modernisation25:25 Upgrading Tracks for Higher-Speed Trains27:56 Electric Locomotives and Vande Bharat Exports29:23 The Shift Towards Multimodal Infrastructure Corridors31:19 India-UAE Trade Corridor and the MAITRI Initiative33:21 How Digital Trade Corridors Can Speed Up Cargo Movement35:31 Balancing Road and Rail Freight37:14 Vande Bharat and the Future of Intercity Travel39:26 Why India Needs Integrated Transport PlanningCan Indian Railways turn old diesel engines into export winners? Govindraj Ethiraj speaks with RITES CMD Rahul Mithal on The Core about diesel locomotive exports, locomotive refurbishment, Vande Bharat exports and artificial intelligence in infrastructure planning. Could engines India needs less unlock new markets abroad?#IndianRailways #RITES #VandeBharat #RailwayExports