International Rail Strategic Management Institute in India
The International Railway Strategic Management Institute of India is being set up with the objective of keeping hold of railway industry talent and to prepare Railway Managers to meet the future challenges including that of global rail operations. The Institute is being set up by UIC (International Union of Railways) in India to conduct training/workshops/seminars for Railways Managers of railway systems world-wide, with the partnership of global business schools which would, apart from other topics, also provide inputs in financial matters, market, investment and financial management.
Operational expenses of the Institute would be met through income from the investment of endowment capital, raised through one-time contributions from UIC, its members and fee to be charged for the courses conducted for the Railway Managers. Cost of housing the Institute would be borne by India. After becoming fully functional, the Institute will function on self-financing basis.
A seed capital of 2.5 million Euros has been contributed for setting up the Institute. Indian Rupees equivalent to US $2.5 million (approximately) is also earmarked for infrastructure of the proposed Institute. The Institute is likely to be fully functional by 2010. However, it has become operational since 2005 by conducting one programme in two parts at Paris and Vadodara ( Gujarat).