Indian Railways is working to start high speed trains (Speed ~300 Kmph) and it  has signed a Memorandum of Undertaking (MoU) with Kingdom of Spain, Government of of China and the Government of Austria, for cooperation in development of High Speed Trains.
Minister of State for Railways  Kotla Jaya Surya Prakash Reddy said that Railways has identified seven corridors in the whole Country for carrying out feasibility studies.
For three corridors, feasibility studies have been completed; feasibility studies are in progress for two corridors and in balance two corridors, Consultant to carry out feasibility study is yet to be engaged. The status of three corridors, where feasibility studies have been completed is as under:
(i) Pune-Mumbai-Ahmedabad-650 km – The final report submitted by the Consultant has been accepted by the Ministry of Railways. The construction cost is estimated to be Rs. 49076 crore, and cost of rolling stock as Rs. 6783 crore (both at 2009 price level). The Internal Rate of Return (IRR) comes to 11.42 per cent.
(ii) Delhi-Agra-Lucknow-Varanasi-Patna – 991 km – The Consultant has submitted the Final Report to Ministry and the same is under examination.
(iii) Howrah-Haldia – 135 km – The Consultant has submitted the Final Report to Ministry and the same is under examination.