Indian Railways, IIT-Madras To Collaborate On Rs 8.34 Cr Project On Hyperloop Technology Union Minister of Railways, Communications, Electronics & Information Technology Ashwini Vaishnaw approved a Rs 8.34 crore collaborative initiative on Hyperloop Technology, proposing a high-speed transportation system, with the Indian Institute of Technology (IIT) Madras, during his visit to the institute on Thursday. The Ministry of Railways’ approval follows the submission of the research proposal by IIT Madras for collaborating with the Indian Railways to indigenously develop and validate Hyperloop technology based transportation system and its subsystems. The collaboration is also for setting-up a Centre of Excellence for