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Exercise-2
IR collects data pertaining to passenger preferences, ticketing patterns, commodity flows, train running and information on various services and operations. We are exploring the possibility of monetizing our data, software and some of the free services provided by IR such as PNR enquiry, currently being commercially exploited by other players but at the same time ensuring that no compromise to customer privacy is made. The IRCTC website also offers opportunities for exploiting e-commerce activities on account of the large number of hits that it receives. IR has vast physical infrastructure which is ripe for commercial exploitation through advertising.
We intend to give special focus to exploiting advertising potential of our stations, trains and land adjacent to tracks outside of big stations. We will make efforts to use our customer-interfacing assets in every manner possible for earning advertising revenues and partner with agencies to earn revenues from co-branding including for uniforms, etc. We will evolve models to determine the revenue potential of at least 20 stations in the next 3 months.
In all, we target to increase the advertising revenues by more than 4 times the current revenues. Overhaul of parcel business, we plan to liberalize the current parcel policies including opening the sector to containers train operators to effect a quantum jump in IR’s share of the national CEP (Courier, Express and Parcel) market. Door to door connectivity is especially important for this market segment and we will take all steps necessary to expand our service offerings specially to growing sectors such as e-commerce.
We will also initiate a pilot project for online booking of parcels. Through increased productivity and better manufacturing practices in the production units and workshops, enough capacity can be unlocked for the Railways to become a meaningful player in the domestic and international markets. By 2020, we should aim at generating annualised revenues of about Rs. 4,000 crore by providing these units with necessary empowerment and incentives to realize this target. To ensure participation of large professional players in IR projects and minimizing cost and time overruns, I had announced moving to EPC based contracting last year.
I am happy to announce that we have finalized the standard document for undertaking works through the IR collects data pertaining to passenger preferences, ticketing patterns, commodity flows, train running and information on various services and operations. We are exploring the possibility of monetizing our data, software and some of the free services provided by IR such as PNR enquiry, currently being commercially exploited by other players but at the same time ensuring that no compromise to customer privacy is made. The IRCTC website also offers opportunities for exploiting e-commerce activities on account of the large number of hits that it receives.
IR has vast physical infrastructure which is ripe for commercial exploitation through advertising. We intend to give special focus to exploiting advertising potential of our stations, trains and land adjacent to tracks outside of big stations. We will make efforts to use our customer-interfacing assets in every manner possible for earning advertising revenues and partner with agencies to earn revenues from co-branding including for uniforms, etc. We will evolve models to determine the revenue potential of at least 20 stations in the next 3 months. In all, we target to increase the advertising revenues by more than 4 times the current revenues.
Overhaul of parcel business, we plan to liberalize the current parcel policies including opening the sector to containers train operators to effect a quantum jump in IR’s share of the national CEP (Courier, Express and Parcel) market. Door to door connectivity is especially important for this market segment and we will take all steps necessary to expand our service offerings specially to growing sectors such as e-commerce. We will also initiate a pilot project for online booking of parcels. Through increased productivity and better manufacturing practices in the production units and workshops, enough capacity can be unlocked for the Railways to become a meaningful player in the domestic and international markets. By 2020, we should aim at generating annualised revenues of about Rs. 4,000 crore by providing these units with necessary empowerment and incentives to realize this target. To ensure participation of large professional players in IR projects and minimizing cost and time overruns,
I had announced moving to EPC based contracting last year. I am happy to announce that we have finalized the standard document for undertaking works through the EPC mode and will implement at least 20 projects through this mode in 2016-17. By 2017-18, we will endeavour to award all works valuing above Rs. 300 crore through EPC contracts.
IR seeks services of private parties in non-operational areas through outsourcing contracts such as cleaning, facility management, etc. mode and will implement at least 20 projects through this mode in 2016-17. By 2017-18, we will endeavour to award all works valuing above Rs. 300 crore through EPC contracts. IR seeks services of private parties in non-operational areas through outsourcing contracts such as cleaning, facility management, etc. 420 Words
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