India’s Bullet Train Deal With Japan – The Way Ahead
India has signed a bullet train deal in a bid to improve ties with Asia’s second largest economy. Now, with the newest addition to the railways, you can zip from Mumbai to Ahmedabad in 2 hours flat. With the new high-speed bullet train that India has agreed to buy from Japan, travel time from Mumbai to Ahmedabad has been cut down from eight hours to two.
The deal was made between the two nations during Japanese Prime Minister Shinzo Abe’s visit here. India’s bullet train deal with Japan was one among a bunch of other deals that were signed between the two nations, ranging from areas like nuclear energy to defence technology. According to the nuclear energy agreement, Japan can now export nuclear plant technologies to India.
After the deal Prime Minister Narendra Modi expressed appreciation for Japan’s bullet train package worth approximately $12 billion and technical assistance. Indian officials say that the high-speed train will cost $15 billion in total and Japan will fund 80% of it. “This enterprise will launch a revolution in Indian railways and speed up India’s journey into the future,” Modi said. “It will become an engine of economic transformation.”
PM Modi also announced that India will start extending visa on arrival privileges to Japanese citizens in March. As per the ‘Make in India’ program, cars made in India will be soon exported to Japan, thus establishing India as a manufacturing hub. This news suggests that India is slowly but surely on the way to progress and advancement. What are your thoughts on India’s bullet train deal with Japan?
Sources: http://www.bbc.com/news/business-35086944
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