India's first bullet train corridor, between Mumbai and Ahmedabad, could turn out to be the cheapest high-speed train service in the world.

The Japanese team working on its feasibility study has worked out its "fare box revenue" model, according to which the bullet train fare will be just one-and-a-half times more than the AC-I fares of other trains on the same route.

According to this model, the Mumbai-Ahmedabad bullet train fare works out to about Rs 2,800, calculated on the basis of the current AC-I train fare of Rs 1,895. 

Currently, trains on this route take about eight hours for the 534-km journey. The bullet train is expected to take less than two hours.