Indian Railway Catering and Tourism Corporation (IRCTC), the Indian Railways’ wholly-owned listed subsidiary, is eyeing partnerships to offset recurring costs incurred in train operations, which is part of its two-year-old diversification from core catering and ticketing businesses.

       To this end, it is courting public sector undertakings such as Bharat Heavy Electricals (BHEL) and others to create a special purpose vehicle for the routes for which IRCTC has bid. The railway ministry opened bids for public private partnerships in passenger train operations in July 2021 and received ...