On September 14, 2017, Prime Minister Narendra Modi and Japan’s Prime Minister Shinzo Abe laid the foundation stone of the bullet train from Mumbai to Ahmedabad. Japan lent 88,000 crore rupees of the cost of about 1.08 lakh crore. The loan runs for 50 years at an interest rate of 0.1 percent, and repayment begins after 15 years.
“The bullet train is in a way a big gift from Japan to India,” Modi said. “It is in a way a project being constructed for free.”