Indian govt to review proposal to allow foreign investment in rail

NEW DELHI, March 4 Tue Mar 4, 2014 3:27am EST

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NEW DELHI, March 4 (Reuters) - Indian Trade Minister Anand Sharma said on Tuesday he hoped the government would soon consider a proposal to allow foreign direct investment in India's railways.

The proposal, first aired in January, would seek to unblock infrastructure bottlenecks on the world's fourth-largest railway network, which is state run, that have contributed to a halving of economic growth since the global financial crisis.

It would allow foreign investors to fully own new suburban services, high-speed tracks and connections to ports, mines and power stations, sources said at the time. (Reporting by Rajesh Kumar Singh; Writing by Douglas Busvine; Editing by Kim Coghill)