Government to review proposal to allow foreign investment in rail

NEW DELHI (Reuters) - Trade Minister Anand Sharma said on Tuesday he hoped the government would soon consider a proposal to allow foreign direct investment in India's railways.

The proposal, first aired in January, would seek to unblock infrastructure bottlenecks on the world's fourth-largest railway network, which is state run, that have contributed to a halving of economic growth since the global financial crisis.

It would allow foreign investors to fully own new suburban services, high-speed tracks and connections to ports, mines and power stations, sources said at the time.

(Reporting by Rajesh Kumar Singh; Writing by Douglas Busvine; Editing by Kim Coghill)