Japanese International Co-operation Agency (JICA)
In continuation of the trend of growing Japanese investment in India, Japan agreed upon the terms for the construction of India‘s first-ever High Speed Rail (HSR) line, linking the cities of Mumbai and Ahmedabad. In this connection, Prime Ministers Shinzo Abe and Narendra Modi have recently cleared the project estimated to cost of approximately US$15 billion with the Japanese International Co-operation Agency (JICA) pledging to invest 81 per cent of that amount in the form of a long-term low-interest loan to aid construction of the project. When completed, the HSR line will cut the travel time between the main centres of two of India‘s most economically-developed states from seven hours to two hours due to the ability of the Japanese E5 Series Shinkansen trains to travel at speeds of up to 320 km per hour.