NCRTC Hosts UITP TEFC Meeting, Showcases Innovations in Financial Sustainability

Meerut- The International Association of Public Transport’s (UITP) Transport Economics and Finance Committee (TEFC) meetings, co-hosted by the National Capital Region Transport Corporation (NCRTC), were inaugurated in New Delhi on 19th November 2024. The hybrid event brings together over 40 senior representatives from public transport operators, authorities, government officials, and experts worldwide for a two-day meeting, to exchange insights and deliberate on sustainable mobility, affordable fares, innovative financing, and operational efficiency in the public transport sector.

In his opening remarks, Mr. Shalabh Goel, Managing Director of NCRTC, extended a warm welcome to the delegates, stating, “It’s the first time that a TEFC meeting is being held in India, and NCRTC is honoured to host the Committee meetings and facilitate discussions that will shape the future of public transport. As cities across the globe confront the challenges of growing population and environmental concerns, it is clear that the future of urban transport must be financially sustainable, environmentally responsible, and resilient in the long term. We must utilise forums like UITP to drive impactful change toward creating inclusive and efficient transit systems for generations to come. This platform also provides an invaluable opportunity to highlight the transformative potential of our Regional Rapid Transit System (RRTS) and draw inspiration from global best practices.”

The Managing Director also shared that, as a longstanding member of the TEFC, NCRTC is pleased to have made significant contributions to the committee’s initiatives, such as providing value-added inputs, undertaking discussions, brainstorming on various working papers, and participating in working groups. These collaborations have strengthened NCRTC’s capacity to implement world-class projects like RRTS while fostering valuable partnerships with international stakeholders.

Through the host presentation, NCRTC highlighted its strategies for achieving financial sustainability, including optimising operation and maintenance costs, transit-oriented development initiatives, seamless multimodal integration, first/last-mile connectivity, and commuter-centric station designs. The RRTS, with its commuter-first approach, is not only revolutionizing regional connectivity in the National Capital Region but also setting new benchmarks for sustainability and financial innovation in public transport.

The following sessions on first day focused on critical topics such as fare affordability and innovative pricing models and members shared insights on ticketing programme from Germany and Ile de France. Key discussions also took place on green finance initiatives that support the transition to low-carbon transit systems. Delegates also highlighted the role of carbon credits in driving environmentally friendly transport solutions, aligning with India’s commitments to decarbonize its transport sector. The Committee also took update on its working groups namely sustainable finance, impact of Public Transport, among others. In the afternoon session, participants presented data-driven approaches to optimizing costs and improving service delivery, demonstrating how technology is transforming urban transit operations.

The second day of the meeting built upon these discussions, with a strong focus on public-private partnerships (PPPs) as a means to enhance financial viability and efficiency in urban transit. Delegates explored case studies on successful PPP models deployed in India and globally, showcasing their potential to drive innovation and improve service delivery. The rail landscape in India was also examined, with detailed discussions on funding models, infrastructure development, and the integration of new-age technologies into existing systems.

Delegates also had the opportunity to visit NCRTC’s Delhi-Meerut RRTS corridor. The site visit provided a firsthand look at the commuter-centric infrastructure of the RRTS project, multimodal integration features, and the advanced technologies being deployed in the development of India’s first Regional Rapid Transit System. This visit offered a practical perspective on the discussions held during the sessions, reinforcing NCRTC’s commitment to delivering a transformative mobility experience.

NCRTC remains steadfast in its efforts to leverage global collaboration and knowledge exchange to achieve higher standards of excellence in the planning and implementation of RRTS corridors.