On 12th December, India inked MoUs with Japan for introduction of bullet train and Civil Nuclear Energy. The MoUs were inked by Indian Prime Minister Narendra Modi and Japanese PM Shinzo Abe.
After signing the deal, Modi said, “No friend will matter more in realising India’s economic dreams than Japan. We have made enormous progress in economic cooperation as also in our regional partnership and security cooperation. Shinzo has been prompt and positive on our economic proposals many of which are now unique to India. Japanese private Investments are also rising sharply.”
An agreement to introduce a Bullet Train between Amhedabad and Mumbai was also inked. Modi described the deal as an engine of economic growth. Foreign Secretary Jaishankar said that the high speed rail project will be finished in 7 years. Bullet train will be built using Japan’s Shinkansen Technology.
A joint feasibility study for this project was jointly conducted by the Indian Railways and Japan International Cooperation Agency in July this year and estimated cost for the 505 km corridor is $15 billion.
