Not just high speed train, India wants high speed growth, said Prime Minister Narendra Modi while addressing top business leaders at the India-Japan Business Leaders Forum in New Delhi, soon after welcoming Japan’s Prime Minister Shinzo Abe in the summit on on Saturday.
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Modi’s cabinet this week cleared a $14.7 billion Japanese proposal to build a bullet train line between Mumbai and Ahmedabad, giving Japan an early lead over China, which is conducting feasibility studies for high speed trains on other parts of the Indian rail network.
This apart, the corridor was also studied by the state-run RITES (Rail India Technical and Economic Service) and Systra of France, along with Italfer of Italy, in 2010.
The two leaders are expected to discuss the ambitious bullet train project between Ahmedabad and Mumbai and a civil nuclear deal.
India sees Japan as an important player in the nuclear energy sector with major Japanese firms manufacturing components for related equipment.
He also received a warm welcome in Japan past year, when Abe showed him around the ancient capital of Kyoto, after choosing the country for his first bilateral visit outside South Asia.
Soon after PM Modi’s address, Japanese PM Shinzo Abe said that a strong India is good for Japan and a strong Japan is good for India.
Abe was set to begin his three-day visit today during which he will hold annual summit talks with Modi tomorrow.
“We also appreciate the sharp increase in Japanese bilateral assistance programme and the strength of public and private Japanese commitment for the “Make in India” mission”.
Referring to recent growth in Index of Industrial Production numbers, the Prime Minister said, it reflects that India is a country of opportunities, especially in the light of the global economic slowdown.
“If the “Shinkansen” (Japan’s bullet train) starts flying in India, distances will get smaller”, he said.
“In September 2014 in Tokyo, Prime Minister Abe spoke of $35 billion of Japanese finance and investments for India over five years”, Indian Prime Minister Narendra Modi said at a news conference with Abe. “We have made enormous progress in economic cooperation as also in our regional partnership and security cooperation”, said Modi after signing the deal.
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Appreciating that India is one of the largest recipients of Japan’s ODA, Prime Minister Modi thanked the people of Japan for their contribution to the building of social and physical infrastructure in India that is key to the country’s development and modernisation.
