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Jayant Mundhra

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Dexter Capital Advisorsย โ€ขย 9m

Many say bullet trains in India wonโ€™t ever be profitable ๐Ÿ™๐Ÿ™ They said the same thing about Chinaโ€™s massive high-speed rail network, which has rapidly grown to become the largest in the world. They used to say, itโ€™s "way too ambitious and costly". It was declared the Communist Partyโ€™s streak of building white elephants. .. Come 2024: It has turned profitable. In the first 6 months of 2024: Net profit of 1.7 billion yuan. And its debt ratio got down to 64.6%, a 10-year low. .. I have to say, this is a very significant achievement by China because the doubters had a point: It could very well have proven to be an immensely costly financial disaster. All the more impressive when you think it's a relatively new investment: China only opened its first high-speed rail line in 2008. They built it all up - the entire 45,000km of it - and turned it profitable in just 16 years. It's also a great proof of concept for many countries that don't have such infrastructure (looking at our own, India). .. Very large domestic high-speed train networks can be made to work ๐Ÿ™๐Ÿ™ This is good news because of course traveling by train is infinitely better for the environment than virtually all other long-distance transportation methods. And thatโ€™s why we need an aggressive decadal plan to build a golden quadrilateral-like network of bullet trains as a national collective. With due respect to dissent, on this subject, special interest groups need to be ignored, and a massive resolve must be made. .. When PM Atal Bihari Vajpayee launched the Golden Quadrilateral project, Lalu Prasad of RJD fiercely attacked the BJP-led NDA Govt. He had alleged, that the Govt was pushing this project to award contracts to builders and business communities which used to be a strong vote bank for the the BJP. His grouse? Hardly a few drove cars in India, so why build highways? .. Iโ€™m glad India didnโ€™t listen to Lalu then ๐Ÿ™๐Ÿ™ And I really hope the India of today wonโ€™t pay heed to todayโ€™s Lalus either. Some obviously would. But I hope most wonโ€™t.

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