Across the globe, most of the bullet train and high-speed train projects are shelved as they lead to long-term liability for the state governments by setting aside a considerable subsidy bill to sustain the capital invested.
"Kawasaki has tied up with Bharat Heavy Electricals Limited, while we have done MoU with Hitachi. Last week I went to Japan and visited Hitachi factory in order to see how much we can indigenise for the project, Hota told reporters, after addressing a convocation at Nirma University.
Many corridors have been studied for the feasibility of bullet trains, such as the Delhi-Chandigarh, Delhi-Mumbai, Delhi-Kolkata and Bengaluru-Chennai routes.
The logo was designed by a student of National Institute of Design.
The speed was reduced to 300 kilometres per hour following the deadly accident in July 2011 that killed 40 people.
The high-speed technology train would cover the Mumbai-Ahmedabad stretch spanning 508 km in two hours.
Brands will find prominence on trains as the railways have offered the inside and the outside of compartments for showcasing products.
The Ministry will cross the budgeted figure of Rs 1.21 lakh crore in the next year, says the Railway Minister Suresh Prabhu.
A bullet train is a costly digression in the context of Prabhu‘s major focus on boosting investment in the main railway system.
Japan promised USD 33.8 billion assistance to India for the next five years towards funding next generation infrastructure projects, smart cities, rejuvenation of Ganga river and introduction of bullet trains.