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Swiss Challenge

  Oct 15, 2017

Swiss Challenge

What? Is this idea new to India? Why is it being discussed now?
Recently, cabinet cleared a proposal to redevelop about 400 railway stations through ‘open invitation’ from interested parties. The parties will present designs and business ideas for commercial exploitation of Railways real estate — land and air space. Stations are redeveloped by Indian Stations Development Corporation Ltd, a special purpose vehicle set up as a joint venture between IRCON (51%) and Rail Land Development Authority (49%). But given its inability to develop all stations, the SPV proposes to accept business ideas from private players.

What are the advantages? What are the problems? Is the Swiss Challenge suited to India?