India has cancelled their decision to construct bullet trains by China, as four years ago there happened a bullet train accident which resulted in 40 deaths and 200 injuries.
This happened to be the reason behind India’s decision change and handling the major project to Japan.
The 98,000 crore project was okayed on Wednesday by the cabinet and also announced during the Japanese premier Shinzo Abe’s visit last week.
Sources told to a leading daily that, “a committee headed by NITI Aayog vice-chairman Arvind Panagariya has said that the Shinkansen System had the best safety record with no fatalities in addition to the fact that delays on a trip did not exceed a minute.”
“In the coming years, up to 70-80% of the components could be manufactured in India. The Japanese government has offered technical support and was willing to drive the local manufacturing and technology transfer initiative within a specified period,” said sources.
Even Japan is ready to offer soft loans for bullet trains in India.
