Is India ready for Japan’s bullet train? Japanese suppliers think so
New Delhi/Tokyo — Japanese steel and engineering companies are in the driver’s seat to bag major supply contracts for a $17bn Indian bullet train, several sources said, undermining a key component of Prime Minister Narendra Modi’s economic policy — a push to "Make in India". Japan is funding most of the project, and Japanese companies are likely to supply at least 70% of the core components of the rail line, said five sources in New Delhi with direct knowledge of the matter. A spokesperson for Modi’s office declined to comment. The Indian company executing the project, National High Speed Rail Corporation Ltd (NHSRCL), said in a statement late on Thursday that procurement from Japan will be only 18% of the total project cost. Indian companies will carry out the construction of bridges and structures for the elevated rail, which will amount to more than half the cost, it said. A Japanese transport ministry official involved in the project said the two countries were still working out...
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