India may not import Shinkansen, or bullet trains from Japan, seven years after the launch of the ambitious Mumbai-Ahmedabad High-Speed Rail (MAHSR) corridor project.
New Delhi has opted for a Make-in-India approach, awarding the contract in September to the BEML Ltd-Medha Servo Drives joint venture that manufactures the Vande Bharat trains.
Minister for Railways Ashwini Vaishnaw, along with government officials, visited Japan in September to resolve the pending issues, talks remain inconclusive.
Japan International Cooperation Agency (JICA) is still committed to fund Rs 59,396 crore for the project amid contours for the loan being renegotiated to ensure the completion of the ambitious joint venture (JV) is not delayed any further. Initially, the project, which was launched in 2017, was scheduled to be completed by December, 2023.
