Railway Minister Suresh Prabhu is targeting the commissioning of the project by 2023-24. 

February 2016, a special purpose vehicle National High Speed Rail Corporation Ltd was formed to implement the elevated Mumbai-Ahmedabad high-speed rail corridor project. The Japanese government has agreed to provide a loan of up to 81 per cent of the project cost at 0.1 per cent per annum, to be repaid in 50 years with a 15-year moratorium. The project was sanctioned with 50 per cent equity participation by the railway ministry and 25 per cent each by the governments of Maharashtra and Gujarat.

The originating station in Mumbai would be at the Bandra Kurla Complex. There would be 12 stations on the route. The Indian Railways has been working on a multi-pronged strategy for running of high-speed trains (with speeds of 300 kmph) and semi-high-speed trains (with speeds of 160-200 kmph).