New Delhi�:�Indian railways on Tuesday signed memorandums of understanding (MoU) with various branches of Indian Institutes of Technology (IIT) for setting up centres for railway research.
The railways entered into MoUs with IIT Kanpur, IIT Madras and IIT Roorkee, to fulfil the budget announcement of setting up four centres for railway research in select universities.
The railways had earlier signed a MoU with the University of Mumbai in April 2015.
According to Railway Minister Suresh Prabhakar Prabhu, these MoUs would contribute immensely towards providing solutions for utilisation of railway assets in a more cost effective manner.
The minister said that the government's vision to see Indian railways as a net exporter of technology to the world shall soon be realised.
Prabhu elaborated that such partnerships between railways and academic institutions will lead to other spin-offs.(IANS)