In a significant financial development, Export-Import Bank of India (EXIM Bank) has presented a dividend cheque of ₹325 crore to Smt. Nirmala Sitharaman, the Union Minister for Finance and Corporate Affairs, for the fiscal year 2024-25.
The cheque was handed over by Smt. Harsha Bangari, Managing Director of India Exim Bank, reaffirming the institution’s commitment to financial prudence, profitability, and support for India’s global trade and development finance objectives.
As a premier export credit agency, Exim Bank plays a vital role in enhancing India’s international trade competitiveness. The dividend payout is reflective of the bank’s consistent performance and its role in aiding the country’s economic diplomacy through structured finance, project exports, and development initiatives across Asia, Africa, and Latin America.
The Ministry of Finance has appreciated the continued commitment of public sector banks and financial institutions in delivering value to the nation, both in terms of financial contributions and their strategic roles in key sectors.
This substantial dividend follows Exim Bank’s broader mission of strengthening India’s external sector and enhancing the global footprint of Indian businesses.
New Delhi | June 2025 — In a major boost to India’s growing stature as a global supplier of advanced rail infrastructure, the Government of India has announced the export of 150 state-of-the-art locomotives to the Republic of Guinea, a West African nation. Valued at over ₹3,000 crore, this strategic deal underscores India’s deepening economic engagement with Africa and showcases the technological capabilities of Indian manufacturing in the rail transport sector.
The agreement, finalized under the India–Africa development partnership framework, involves the export of diesel-electric locomotives manufactured by Indian Railways production units and private partners. The locomotives will support Guinea’s efforts to modernize its rail network, enhance freight capacity, and improve regional connectivity—particularly for its mineral-rich inland areas.
A senior official from India’s Ministry of External Affairs (MEA) commented:
“This export is not only a commercial transaction but also a symbol of India’s commitment to Africa’s infrastructure development and economic self-reliance.”
Key Highlights of the Deal:
🚆 Quantity: 150 diesel-electric locomotives
💰 Value: ₹3,000+ crore (~USD 360 million)
🏗️ Manufacturer: Indian Railways (via production units like Banaras Locomotive Works and select private partners)
🌍 Destination: Republic of Guinea, West Africa
🛠️ Purpose: Freight transport, mining sector logistics, and regional rail development
Strengthening the ‘Make in India’ Export Vision
The deal reinforces India’s ‘Make in India for the World’ strategy by exporting high-quality, durable, and fuel-efficient locomotives built using indigenous technology. These locomotives are equipped with modern features, including:
Advanced braking and control systems
Fuel efficiency optimization
Minimal maintenance design
Climate-adapted components for African terrain and weather
India has been increasingly expanding its footprint in railway diplomacy, providing rail infrastructure, rolling stock, and technical expertise to various African and Asian nations under government-to-government and EXIM Bank-supported frameworks.
Guinea’s Infrastructure Growth and Strategic Ties
For Guinea, the locomotives will significantly improve its ability to transport bauxite, iron ore, and agricultural goods from the interior regions to ports for export. The deal also signals Guinea’s strategic pivot towards reliable global partners for development support.
Guinea’s Ministry of Transport welcomed the initiative, stating:
“India has proven to be a trusted partner in development. These locomotives will form the backbone of our national railway upgrade, creating jobs and boosting trade.”
Looking Ahead
This export is part of India’s broader push to become a leading provider of sustainable infrastructure to the Global South. With Africa emerging as a priority region for India’s foreign and economic policy, more such high-impact deals are expected in the near future.
The first batch of locomotives is expected to be shipped by early 2026, with delivery and deployment scheduled in phases over two years. Training and technical support will also be provided to Guinean railway personnel as part of the comprehensive package.
