New Delhi, Sept. 9 -- The freight wagon market in India is expected to nearly double by 2031, touching Rs 250-300 billion from the current Rs 120-140 billion, driven by strong export potential and technological advancements, according to a report by SMIFS, a stock market company.

The report highlighted that as of 2025, the market is valued at Rs 120-140 billion, supported by large-scale procurement from Indian Railways (IR) and increasing participation from the private sector.

With a projected compound annual growth rate (CAGR) of 10-12 per cent, the sector is poised to grow significantly over the next six years.

It stated "By 2031, the market is projected to nearly double, reaching Rs 250-300 bn, supported by a strong CAGR of 10-12 pe...