The correct answer is option E) London.

The Union Ministry of Road Transport and Highways in India signed a memorandum of understanding (MoU) with the Transport System of London to revamp the public transport system in India. This MoU aims to enhance the capacity of the Indian government in planning, building, and managing urban transport infrastructure.

Importance of the MoU:
- The MoU is significant as it will help India learn from the experiences and best practices of London, which has a well-developed and efficient public transport system.
- London is known for its advanced transportation infrastructure, including an extensive network of buses, taxis, trains, trams, and cycling facilities. By partnering with London, India can benefit from their expertise and knowledge in urban transport planning and management.
- The collaboration will also assist in the implementation of various initiatives under the Smart Cities Mission and the Sustainable Urban Transport Project in India.

Key objectives of the MoU:
1. Capacity building: The MoU aims to enhance the capacity of the Indian government in planning, designing, and implementing sustainable transport solutions. This includes training programs, workshops, and sharing of best practices.
2. Technical cooperation: The agreement promotes technical cooperation between the two countries in areas such as integrated transport planning, traffic management, and intelligent transportation systems.
3. Policy exchange: The MoU facilitates the exchange of information and experiences in policy formulation and implementation related to urban transport. This will help India in formulating effective policies and strategies for improving public transport systems.
4. Institutional strengthening: The partnership aims to strengthen the institutional capacity of the Indian government in the areas of urban transport planning, financing, and project implementation.

Expected outcomes:
- The collaboration is expected to contribute to the development of sustainable and efficient public transport systems in Indian cities, reducing congestion, air pollution, and carbon emissions.
- The exchange of knowledge and best practices will help Indian policymakers in making informed decisions and implementing effective measures to improve the quality and accessibility of public transportation.
- The MoU will also support the Indian government's efforts to promote the use of clean and green modes of transport, such as electric vehicles, walking, and cycling.

In conclusion, the MoU between the Union Ministry of Road Transport and Highways in India and the Transport System of London is a significant step towards revamping the public transport system in India. By partnering with London, India aims to learn from their expertise and experiences in urban transport planning and management, ultimately improving the accessibility, efficiency, and sustainability of public transportation in the country.