* India and Japan have signed an MoU on 12th December, 2015 on cooperation and assistance in the Mumbai – Ahmedabad High Speed Rail Project (Bullet Train project).
* Japan has offered an assistance of over Rs. 79,000 crore for the project. The loan is for a period of 50 years with a moratorium of 15 years, at an interest rate of 0.1 per cent.
* The project is a 508 Kilometer railway line costing a total of Rs. 97,636 crore, to be implemented in a period of 7 years. It has been agreed that Shinkansen Technology will be adopted for the project.
* The cooperation of Japan will be fixed on transfer of technology and “Make in India”. Japan will assist India in training of personnel for HSR.