9:26 AM
Sidhartha & Mahendra Singh | TNN | Dec 10, 2015,
HIGHLIGHTS
• Rs 98,000 crore project was cleared by the cabinet on Wednesday
• The deal is expected to be announced during Japanese premier Shinzo Abe's visit
• Japanese PM Shinzo Abe will arrive on Friday on a three-day visit to hold annual summit talks with Narendra Modi
Representative image
NEW DELHI: The bullet train accident in China four years ago along with low-cost finance and a promise to have a substantial 'Make in India' component and transfer of technology clinched the deal for Japan to build the first high-speed train that will run between Mumbai and Ahmedabad — with the possibility of extending it to Delhi in future.
The Rs 98,000 crore project was cleared by the cabinet on Wednesday evening and is set to be announced during Japanese premier Shinzo Abe's visit later this week.
Sources told TOI that a committee headed by NITI Aayog vice-chairman Arvind Panagariya has said that the Shinkansen System had the best safety record with no fatalities in addition to the fact that delays on a trip did not exceed a minute.
Design flaws and weak management are said to have caused a crash in the south-eastern city of Wenzhou in which 40 died and close to 200 were injured. China was keen on funding and building the country's first bullet train as it sought to enhance its railway footprint across the globe.
PM Narendra Modi and his Japanese counterpart Shinzo Abe shake hands during a meeting in Paris. (PTI File Photo)
But there is still chance for others. Although Japan is keen to fund other similar projects, the government has kept the window open to partner with other countries, sources said.
HIGHLIGHTS
• Rs 98,000 crore project was cleared by the cabinet on Wednesday
• The deal is expected to be announced during Japanese premier Shinzo Abe's visit
• Japanese PM Shinzo Abe will arrive on Friday on a three-day visit to hold annual summit talks with Narendra Modi
Representative imageNEW DELHI: The bullet train accident in China four years ago along with low-cost finance and a promise to have a substantial 'Make in India' component and transfer of technology clinched the deal for Japan to build the first high-speed train that will run between Mumbai and Ahmedabad — with the possibility of extending it to Delhi in future.
The Rs 98,000 crore project was cleared by the cabinet on Wednesday evening and is set to be announced during Japanese premier Shinzo Abe's visit later this week.
Sources told TOI that a committee headed by NITI Aayog vice-chairman Arvind Panagariya has said that the Shinkansen System had the best safety record with no fatalities in addition to the fact that delays on a trip did not exceed a minute.
Design flaws and weak management are said to have caused a crash in the south-eastern city of Wenzhou in which 40 died and close to 200 were injured. China was keen on funding and building the country's first bullet train as it sought to enhance its railway footprint across the globe.
PM Narendra Modi and his Japanese counterpart Shinzo Abe shake hands during a meeting in Paris. (PTI File Photo)
But there is still chance for others. Although Japan is keen to fund other similar projects, the government has kept the window open to partner with other countries, sources said.
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