Japan clinched the deal to build India’s first bullet train with the promise of low-cost finance and have a substantial ‘Make in India’ component. Japan will now build the first high-speed train that will run between Mumbai and Ahmedabad, with the possibility of doing the same in Delhi in the future.
The Rs.98,000 crore project was cleared by the cabinet and will be announced during Premier Shinzo Abe’s visit to India, when he will hold annual summit talks with PM Narendra Modi.
China lost the deal because of the unfortunate bullet train crash in China that is said to have been caused by design flaws and weak management, and that took the lives of 40 and injured 200.
All the same, India has not closed the window to other partnerships but has kept the window open to partner with other countries.