ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
Economy

PM Modi and Japan's Abe launch Indian shinkansen project

$17bn railway expected to serve 15 million a year, create thousands of jobs

Japanese Prime Minister Shinzo Abe, left, and his Indian counterpart, Narendra Modi, celebrate the beginning of construction on a high-speed rail project in Ahmadabad, India on Sept. 14. (Photo by Yuji Kuronuma)

NEW DELHI -- India on Thursday inched closer to its dream of getting a bullet train when Japan's Prime Minister Shinzo Abe and his Indian counterpart, Narendra Modi, laid the foundation stone for the country's first high-speed rail link based on Japan's famed shinkansen technology. 

"It's a historic day today, with a new chapter beginning in the relationship between the two countries," Abe said, speaking in Japanese, at a ceremony to mark the start of work on the 1.08 trillion-rupee ($16.8 billion) project -- 81% of which is to be financed by soft loans from Japan -- in the western city of Ahmedabad, in Modi's home state of Gujarat. 

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more