Japan may pick up an equity stake in the Mumbai-Ahmedabad high-speed rail project. Sources said that Japan has informally agreed to it and if all goes according to plan, Japan may pick up 10 per cent equity in the high-speed rail Shinkansen project between Ahmedabad and Mumbai. It will show to the world that Japan and India are true partners and their geo-political-economic relations transcend transactional boundaries.
Railway Minister Piyush Goyal has already drawn a parallel between the Shinkansen high-speed rail technology and Maruti-Suzuki, on which people had concerns initially, but the company evolved into one of the most reliable brands in the country. He has pointed out that Japan had agreed for low-cost financing, unlike other countries that have high-speed train technology.
Goyal also believes that Shinkansen technology can be Indianized and exported from India as its cost can rapidly decrease, as it happened in LED bulbs. India is also pushing for joint ventures between Japanese and Indian firms.