INDIA- As much as $120 billion will be invested in Indian Railways in the next five years for expansion and upgradation, said Railway Minister Suresh Prabhu on June 30. Indian Railway did not see any investments in the past 25 years, so there will be an investment of $120 billion to catch up with the backlog, said Prabhu, in an address to students and alumni of premier institutions like the IITs, National Law University and the London School of Economics. As the need of financial infusion in the railways is immense, the Government has already decided to welcome FDI in the different departments of railways like station development, coach manufacturing, high speed network and suburban rail, he said. (Indo-Asian News Service)…[+]