The international political economy post-independence has undergone transition with the globalisation period being no exception to the growing interaction between the countries facilitating the exchange of technology, research and human resources to help modernise the sectors of the economy. The railways are an example of the sectors of the economy which have been exposed to growing investments and multilateral cooperation in the cultural, technical and organisational domain. Further, the involvement of international organisations has helped ramp up competition between the railway networks in the technical sectors with the superpowers joining the fray and helping the developing and underdeveloped economies develop their infrastructure and increase the share of railways in the domestic economy through modern technology. The idea of railway diplomacy though new has been gaining momentum with India establishing a cultural relation with its neighbours Pakistan and Bangladesh in the past and establishing its foothold in the International Union of Railways through high-speed railway construction. The course attempts to explore the emerging perspectives and approaches adopted by the developed and developing countries in the economic, policy and organisational perspective, and the role of railways in influencing the geopolitical, and institutional approaches to international relations