India is set to benefit from the Japanese bullet train technology, with Tokyo today pledging to invest heavily in building high speed railway systems in the country. Prime Minister Dr.Manmohan Singh and his Japanese counterpart Shinzo Abe issued a joint statement after summit level talks in which they laid down the course of co-operation between the two countries on setting up high speed railway systems in India.
The two sides signed the Exchange of Notes for loan totalling 424 billion dollars. This includes a 71 billion US dollars for the Mumbai Metro Line-lll project as well as loan of 353.106 billion dollars for eight other projects. Prime Minister noted Japan's interest in supporting the introduction of high speed railway systems in India.
Dr. Singh appreciated Japan's high level expertise in designing and implementing Bullet Train systems. He conveyed that India will plan such projects based on its infrastructure priorities, commercial viability and financial resources in India. The Mumbai-Ahmedabad rail line would stretch 500 kilometres at an estimated cost of upto one trillion yen.The two Prime Ministers, recognising the importance of upgrading the speed of passenger trains on the existing Delhi-Mumbai route to 160-200 kmph welcomed the final feasibility report undertaken with Japan's cooperation, and confirmed that further consultation between the two countries will continue to draw up a road-map.
In his statement after the ,the Prime Minister underlined the important role of India and Japan for a peaceful, stable cooperative and prosperous future for the Asia pacific and Indian ocean region.
He said that this is important at a time of glocal uncertainties, change and challenges. The Prime Minister said that discussions with Mr. Abe are consitent with bilateral global partnership . Dr. Singh said the joint statement refects the importance attached by India to intensify political dialogue and strategic consultations. In his remarks Shinzo abe said that talks on civil nuclear cooperation will be accelerated for conclusion of the agreement. He called for taking the bilateral relations to new heights.
Both New Delhi and Tokyo reaffirmed their resolve to work towards early reform of United Nations Security Council including its expansion and decided to hold the first India-Japan Consultations soon. They will hold regular consultations twice in an year.
India and Japan today agreed to continue to work to prepare the ground for New Delhi to become a full member in the International Export Control Regimes including the Nuclear Suppliers group.
