State-owned BEML has been awarded a contract to build India’s first indigenously manufactured bullet train, with a total value of Rs 8.66 billion. According to a statement from BEML, Indian Railways' production unit, Integral Coach Factory (ICF), has placed an order for the design, manufacturing, and commissioning of two high-speed trainsets, each consisting of eight cars (coaches). BEML noted that each coach will cost Rs 270.86 million, with the total contract value including expenses for design, one-time development, non-recurring charges, and the cost of jigs, fixtures, tooling, and testing facilities. In its statement, BEML highlighted that the project represents a major milestone in India's high-speed rail development, with the first locally designed and manufactured trainsets having a test speed of 280 kmph. The Shinkansen E5 series bullet trains, which India plans to deploy on the Mumbai-Ahmedabad route, can achieve speeds of up to 320 kmph. A report from April 2024 indicated that India is preparing to develop homegrown high-speed bullet trains. Initially, the Railway Board had been considering Japanese technology for the Mumbai-Ahmedabad route, but India might now opt for its own trains, as discussions with Japan have not yet reached a conclusion. Additionally, BEML's per-coach cost is significantly lower than Japanese estimates, with Japan proposing to charge India over Rs 460 million per coach.