PM Narendra Modi and Japanese PM Shinzo Abe set down the foundation stone for India’s first bullet train today. The route for the bullet train will install between the financial hub of Mumbai and metropolitan hub of Ahmedabad. An estimated distance of route is 300-350km. The speed of the bullet train will run with a speed of 300–350 km/h.
Investments in the Bullet Train Project
The project will cost approximately ₹1.1 lakh crore. Japan is investing 81% of the funding which is ₹79,087 crore for the project, by a 50-year credit at 0.1% yearly interest. Whereas, Indian Railways is investing ₹9,800 crore in the high-speed rail project.
The Bullet Train plan also flags New Delhi and Tokyo’s close relations among China’s growing possession in the region. As the construction has begun on 14 September 2017, it is presumed to start running in 2022.
India and Japan approved a Memorandum of Understanding (MoU) to begin a shared workability study of the Mumbai-Ahmedabad route in New Delhi in September 2013.
Charges are stated to be ₹3,000, that is 1.5x that of a First-Class AC ticket on the Mumbai-Ahmedabad Duronto Express.