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Japan offers $15 billion for bullet train project in India

  • Japan has offered financial support besides technology for India’s ambitious rail project, estimated to cost about Rs 90,000 crore at an interest rate of less than one per cent.
  • This 505 km project will link Mumbai with Ahmedabad.
  • Japan’s decision to give virtually free finance for Modi’s pet programme is part of its broader push back against China’s involvement in infrastructure development in South Asia over the past several years.
  • The contract with China for high-speed train between Delhi and Mumbai and contract with Japan, bullet train are part of a ‘Diamond Qaudrilateral’ of high speed trains over 10,000 km of track that India wants to set up connecting Delhi, Mumbai, Chennai and Kolkata.

Source: EconomicTimes

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