During the Smart Cities India 2015 Expo in New Delhi from May 20 – 22, many countries expressed keenness in investing in the Indian Government’s smart cities project. Poland expressed interest in partnering with India’s smart cities and industrial corridors, exploring investments in power and mining sectors in many Indian states. Sweden and the European Business &Technology Center hosted pavilions.
Under the Indian government’s 100 smart cities program, approved by the Cabinet last month, each selected city will receive federal assistance of $16 million annually for five years, reports CIOL.
“Urbanization in India is happening at an accelerating rate. By 2031, the population in the urban areas will increase to 600 million from current 377 million. This will boost the increase in the middle class section of the society that will generate larger aspirations seeking better quality of life and sustainable ecosystem. Smart cities concept would require enormous knowledge transfer to devise solutions that are suitable for the Indian scenario” shared B.V.R. Mohan Reddy, chairman, NASSCOM, India.
