In this article, Rishika YADAV (ESSEC Business School, Global Bachelor in Business Administration (GBBA), 2023–2027) shares her professional experience as a Market Research Intern at Alstom in India.
Introduction
As a Global BBA student at ESSEC Business School, I had the opportunity to join Alstom India as a Market Research Intern. This experience allowed me to work at the intersection of strategy, policy, and innovation in the transport sector. My missions ranged from analysing the outlook of the Indian Railways industry to benchmarking global players in the hydrogen-powered engine market and delivering data-driven insights for decision-making.
In this post, I will share my professional journey at Alstom, provide an overview of the industry context in India, and reflect on how market research contributes to shaping strategic positioning in a highly dynamic sector.
About Alstom
Alstom is a global leader in sustainable mobility, designing and manufacturing rolling stock, signaling systems, and railway services. Headquartered in Saint-Ouen, France, Alstom operates in more than 70 countries and employs over 80,000 people worldwide. Its portfolio covers a wide range of solutions, from high-speed trains to metro systems and innovative propulsion technologies, including hydrogen-powered engines.
Logo of Alstom.
Source: the company.
The company plays a central role in the modernization of the Indian Railways, where large-scale infrastructure projects and government initiatives are reshaping mobility. Alstom’s presence in India includes major manufacturing plants, research centers, and long-term partnerships with the Indian government, making it a critical player in the country’s transport ecosystem.
Industry Context: Indian Railways and the Push for Modernization
India’s railway network is the fourth largest in the world, transporting more than 8 billion passengers annually and serving as the backbone of both passenger and freight mobility. With urbanization, growing demand for logistics, and sustainability imperatives, the government has launched ambitious modernization projects.
To structure my analysis, I applied a PESTEL framework (Political, Economic, Social, Technological, Environmental, Legal), which helped me capture the multifaceted drivers shaping the industry:
- Political: Strong government commitment to railway electrification by 2030 and the development of high-speed rail projects such as the Mumbai–Ahmedabad bullet train.
- Economic: Massive infrastructure spending, growing freight demand, and India’s ambition to become a global logistics hub.
- Social: Rapid urbanization and rising middle-class demand for safe, reliable, and sustainable transport.
- Technological: Deployment of digital signaling, automation in metro systems, and investments in green technologies such as hydrogen propulsion.
- Environmental: Climate change policies driving the shift away from diesel and the adoption of zero-emission mobility solutions.
- Legal: “Make in India” requirements for domestic production and procurement rules encouraging partnerships between multinational firms and local manufacturers.
For companies like Alstom, this environment presents both opportunities and challenges. Success depends on aligning with government priorities, anticipating regulatory frameworks, and delivering sustainable solutions that address the mobility needs of a rapidly urbanizing population.
Market Research and Strategic Outlook
Building on the PESTEL framework, my primary task was to translate macro-level industry dynamics into strategic insights for Alstom’s marketing team. I applied elements of Porter’s Five Forces to evaluate competitive pressures, particularly the bargaining power of government procurement agencies, the threat of substitute technologies, and the intensity of rivalry among global players.
For instance, the Indian government’s procurement model places strong emphasis on cost-effectiveness and local value creation. This heightened the importance of analyzing procurement cycles and budget allocations, as these factors directly determine entry opportunities. Similarly, the rise of indigenous technology developers suggested a potential medium-term substitution risk for foreign OEMs (Original Equipment Manufacturers).
My contribution was to synthesize these complex dynamics into actionable recommendations for Alstom’s leadership. By mapping government initiatives (such as 100% electrification by 2030) against Alstom’s innovation pipeline, I helped highlight priority areas for investment and partnership. This showed how market research acts as a bridge between public policy directions and private strategic decisions.
Competitive Analysis in the Hydrogen-Powered Engine Market
A key part of my internship involved conducting a competitive benchmarking study on the hydrogen-powered engine market, an emerging field in sustainable transport. My analysis compared Alstom’s positioning with that of leading competitors, including Siemens Mobility (Germany), CRRC (China), and Stadler Rail (Switzerland). The benchmarking exercise focused on three dimensions:
- Technological efficiency – energy conversion rates, operational range, and adaptability to existing rail infrastructure.
- Regulatory compliance – alignment with safety standards, certification requirements, and government adoption incentives.
- Innovation roadmaps – timelines for pilot projects, R&D collaborations, and commercial deployments.
As part of the study, I also examined India’s first hydrogen train initiative, announced under the “Hydrogen Mission” in 2021 and piloted on the Jind–Sonipat route in Haryana. This project provided a reference point for assessing how domestic adoption could influence demand for hydrogen solutions and how foreign players like Alstom might participate in future collaborations.
The outcome of this competitive analysis was a set of strategic benchmarks that highlighted Alstom’s strengths (global experience, proven prototypes in Europe) and areas where adaptation to the Indian context would be critical (local supply chain integration, cost competitiveness).
Conclusion
My internship at Alstom was more than an introduction to the transport sector — it was a formative experience that sharpened my analytical, strategic, and collaborative skills. Through market research, I learned how to transform complex and unstructured data into clear insights that directly supported executive decision-making. By benchmarking global competitors and tracking procurement patterns, I discovered the importance of combining rigorous analysis with an understanding of policy and technology trends.
Equally important, I developed strong stakeholder management skills by working with senior leadership, and I learned to deliver results under tight deadlines in a fast-moving industry. These experiences deepened my interest in strategy and finance, particularly in industries undergoing technological and regulatory transformation. Looking ahead, I aspire to build a career where I can contribute to shaping sustainable and innovative solutions at the crossroads of business strategy, financial decision-making, and global infrastructure development.
Business concepts related to my internship
I present below three concepts related to my internship and explain how they connect to my missions at Alstom: Total Cost of Ownership (TCO), Public Procurement Economics, and Benchmarking & Competitive Advantage.
Total Cost of Ownership (TCO)
Total Cost of Ownership refers to the overall cost of an asset across its life cycle, including purchase, operation, maintenance, and disposal. In railway procurement, decision-makers often evaluate not only the initial price of rolling stock or propulsion systems but also long-term operating costs such as energy consumption and maintenance. During my internship, I integrated TCO considerations into market analyses by comparing the long-run economics of hydrogen-powered versus diesel and electric trains. This helped demonstrate how Alstom could position its products as cost-efficient over their lifetime, even if initial capital expenditure was higher.
Public Procurement Economics
Public procurement represents a large share of railway investment in India. It is shaped by budget cycles, fiscal priorities, and policy objectives such as “Make in India.” Understanding procurement economics was central to my internship, since I analysed over 500 data points on tenders, contracts, and project timelines. By linking procurement patterns with budget allocations, I helped Alstom anticipate periods of high demand (for example, after fiscal budget announcements) and adapt bid strategies accordingly. This ensured better alignment of Alstom’s proposals with the financial and institutional realities of government buyers.
Benchmarking & Competitive Advantage
Benchmarking involves comparing a company’s performance, costs, and capabilities against competitors to identify strengths and gaps. In my competitive analysis of the hydrogen-powered engine market, I benchmarked Alstom’s offerings against Siemens Mobility, CRRC, and Stadler Rail. This comparison focused on efficiency ratios, regulatory readiness, and innovation timelines. By identifying areas where Alstom’s European experience was a strength, and where local cost competitiveness needed improvement, the benchmarking exercise informed strategic positioning in India. It demonstrated how analytical tools can translate into competitive advantage in bidding and partnerships.
Why Should You Be Interested in This Post?
This post offers a first-hand view of how market research bridges the gap between public policy and private strategy in one of the most dynamic transport markets in the world. If you are curious about:
- How global companies adapt to government-driven reforms,
- How benchmarking and data analysis inform business positioning,
- Or how sustainability goals like hydrogen-powered mobility are transforming traditional industries,
…then this post provides a concrete example from inside Alstom’s operations in India. Beyond an internship story, it illustrates how analytical tools and strategic thinking can shape the future of mobility.
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Useful resources
Indian Railways Official portal
Press Information Bureau of India Government announcements and policy updates
NITI Aayog (Indian government think tank) Reports on hydrogen policy and sustainable transport
International Energy Agency (IEA) The Future of Rail Report
About the Author
This article was written in October 2025 by Rishika YADAV (ESSEC Business School, Global Bachelor in Business Administration (GBBA), 2023–2027). Her academic interests lie in strategy, finance, and global industries, with a focus on the intersection of policy, innovation, and sustainable development.