Bullet Train project in India .

Bullet Train in India

Bullet train in India

Quite recently India laid the foundation stone for one of its most sought after projects- running a Bullet Train. It was very well considered as a dream project of Hon. PM. Narendra Modi. Entire India felt proud of having its first ever bullet train scheduled to run between Mumbai and Ahmedabad, a distance of 508 km, in about 2 hours 35 minutes. In his own words," To grow, one needs to expand ones dreams and decide one's strength to achieve that. It's the New India which has to fly high". "Bullet Train is a project that will provide pace to development. Along with new technology, it will also bring results faster", he added. According to Achal Khare, the Managing Director of the National High Speed Rail Corporation, the project would be completed by December 2023.
It all began with the Prime Minister's ambitious dream of having a high speed train in India that cuts the travel time and yet remains an economical option to go from one city to another. The technology of this High Speed Rail, also known as HSR, was influenced by Japan, which runs a network of bullet trains in their country on Shikasen technology, making many cities well connected to others. According to reports, Japanese Prime Minister Shinzo Abe offered to provide US$12 billion of soft loans to build India's first Bullet Train. The loan was offered at an. interest rate of 0.1 percent per vear with repayment over 50 vears and a moratorium for the first 15 vears. The Japanese Government will be bearing 80 percent of the total project cost .

The reason this deal between India and Japan is considered path-breaking is that there is currently no financial institution in India that could provide such a huge funding to be repaid. over as long time as 50 years.
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Milan Tomic

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