India and Japan on Saturday signed an agreement to set up a high speed rail corridor in the Mumbai-Ahmedabad sector with a Japanese loan of $12 billion on very easy terms. "No less historic is our decision to introduce high speed rail on the Mumbai-Ahmedabad sector through the Japan's Shinkansen, known for its speed, reliability and safety," Prime Minister Narendra Modi said in a joint press conference with his visiting Japanese counterpart Shinzo Abe after delegation level talks between the two sides. "We greatly appreciate Prime Minister Abe's extraordinary package of approximately $12 billion and technical assistance, on very easy terms, for this project," he said.
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