Japan has given a highly concessional loan with repayment period of 50 years and 15 year moratorium. It has an interest rate of 0.1 percent. The project will be executed in a joint venture of the Indian and Japanese companies, Jaishankar said in a media briefing.

The high speed rail will be built using Japan's Shinkansen technology. Japanese Prime Minister Shinzo Abe arrived in India on Friday on a three-day sojourn.

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