Consultancy work on the ambitious Mumbai-Ahmedabad bullet train project will start next month and the construction will commence by the end of 2018.
Taking note of the steady progress made in the Mumbai-Ahmedabad High Speed Rail (MAHSR) Project, the joint statement -- issued after the meeting between Prime Minister Narendra Modi and his Japanese counterpart Shinzo Abe -- said flagship rail project will become operational in 2023.
Ground Breaking Ceremony will be held in 2017.
The two Prime Ministers also welcomed that a task force will be set up comprising representatives of both countries to develop a concrete roadmap for phased transfer of technology and 'Make in India'.
"Both sides will explore further strengthening of partnership in high speed railways," said the statement.
The two leaders emphasised the critical importance of human resource development in high speed rail technology, operation and maintenance in a planned manner, including the commencement of preliminary work on establishment of HSR Institute and development of its training programme.
They recognised the importance of accelerating the MAHSR Project by holding the Ground Breaking Ceremony in 2017. They also welcomed the growing collaboration between India and Japan in the modernisation and expansion of conventional railway system in India.
Modi briefed Abe about India's efforts to accelerate economic development through innovative initiatives such as Make in India, Digital India, Skill India, Smart City, Swachh Bharat and Start-Up India.
Abe expressed Japan's firm support for these initiatives by sharing its advanced skills and technologies, through active mobilisation of Japanese public and private sector investments, including through ODA.
The two Prime Ministers underscored that these initiatives provide significant opportunities for further collaboration between private sectors of India and Japan.
They also decided to cooperate on the HRD in the manufacturing sector in India through Manufacturing Skill Transfer Promotion Programme.
"This programme will enhance the manufacturing base of India and contribute to Make in India and Skill India through training 30,000 persons over next 10 years with Japanese style manufacturing skills...," the statement said.