State-owned infrastructure consultant RITES will continue expanding in West Asia despite regional conflict, according to Chairman and Managing Director Rahul Mithal. As reported by Business Standard, Mithal stated that "I do not foresee this as a long-term setback. The opportunities in West Asia are large. RITES Videsh, both in exports and consultancy, has order books of ₹2,100 crore. This situation is not going to have a substantial or long-term impact on our strategic plan to expand our footprint in this geography." The consultancy firm had established an office in the United Arab Emirates in 2024 and has since signed memoranda of understanding with several players.
A significant recent development was the operationalisation of the Virtual Trade Corridor using MAITRI (Master Application for International Trade and Regulatory Interface) on the India-UAE leg. According to Business Standard, the pilot version went live a few days ago and has connected Jawaharlal Nehru Port Authority in India to two ports in UAE. The exchange of 2 customs and 8 marine messages has started, with the proof of concept opening huge opportunities for expanding MAITRI to other ports and corridors. The MAITRI digital framework connects Customs and port authorities in India and the UAE, helping streamline cargo movement and reduce logistics costs.
The company reported ₹2,415 crore as operating revenues in 2025-26, representing a 10% year-on-year growth. As reported by Business Standard, RITES had set a ₹10,000 crore target for order books in FY26 but ended the year around ₹600 crore short of it. The company will target another 10% growth in 2026-27 and aspire to order books of ₹10,000 crore in FY27. RITES will focus on exports of new and in-service diesel locomotives to Africa and around 200 rail coaches (20 rakes/trainsets) to Bangladesh.
While the war has had direct impact on India's economy and energy security, with the government declaring it as a force majeure event, the impact on RITES's business model is mostly in increased travel costs due to rising airfares. According to Business Standard, Mithal noted that "in most of the contracts on infrastructure execution, there is a clause on price variation and our fee as a consultant (as a percentage) is based on the progress of the project." The company is executing orders for 30 in-service diesel locomotives, which will be converted into cape gauge, worth around $50 million.
