India should invest in the future, not bullet trains, says Hyperloop chairman

Hyperloop Transportation Technologies (HTT) co-founder and Chairman Bibop G Gresta was in India to attend the Global Business Summit, during which he talked about the future of transportation and said it lies in jet speed. HTT has developed a technology that can make a capsule move inside a vacuum tube, simulating environments similar to outer space, and Gresta hopes to revolutionise transportation using this technology.

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The efficiency of this transportation system can be estimated by the time it would take to cover the distance between Mumbai and Pune, which is less than 40 minutes.

"India has a great opportunity to leapfrog to better modes of transportation," Gresta told ET.

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He believes that India should not invest in bullet trains, but in "the future," since bullet trains are noisy, polluting and would prove to be a liability for future generations.

To procure funds worth $120 million for investment in India, HTT will be doing road shows starting next month. HTT’s manpower in India is 20-people strong, who work at home 10 hours a week in exchange for stock options. They get one stock option for every hour of work done.

In recent months, Gresta has met Nitin Gadkari, the minister for Road Transport, Highways And Shipping, along with CMs of Andhra Pradesh, Odisha, Jharkhand and Maharahstra.

"Mr Gadkari is keen on Mumbai-Pune Hyperloop. I believe that's the first Hyperloop route we could develop," Gresta added.

Also read: Hyperloop One asks Indians to identify the first busy route where it can bring ultra-fast transportation system

Developing Hyperloop would cost $20-40 million per kilometre. "In India it could be cheaper. Hyperloop cost is comparable with traditional rail but is cheaper than high speed rail (like bullet train)," said Gresta.

(Image source: The News for The Young Businessmen)