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23 Feb 2024, Edition - 3146, Friday

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Urbanization, Government of India Smart City Mission Launch, and Digital Escalation Drive India’s Smart City Initiatives

by businesswireindia.com

Business Wire India
Rapid urbanization and digital escalation are transforming India’s urban landscape and in order to sustain this Government of India have launched “Smart City Mission”. Through the “Smart City Mission”, Government of India is expected to develop 109 cities as Smart Cities over the next 5 years. Frost & Sullivan expects sub-sectors like urban redevelopment and housing, buildings and waterfront development, intelligent traffic management, and public transport to generate the most growth opportunities and account for 50% of capital investment.
“By 2020, India will have 109 digitally connected Smart Cities and ₹131,762 crore ($20.17 billion) already invested to develop Smart City projects across 60 Indian cities impacting 72.3 million urban population”, said Malabika Mandal, Senior Industry Analyst, Visionary Innovation Research Group, Frost & Sullivan. “Smart Cities have the potential to create around $30 to $40 billion business opportunities for the information technology sector alone.”
Smart Cities of India, 2016–2021 analyzes the selection process, funding models, project implementation models, and the impact and development of Smart Cities by 2020. Economic growth, investment potential, and opportunities in six cities – Kochi, Indore, Bhubaneswar, Surat, Pune, and Ahmedabad – are also provided.
To access more information on this analysis, please click here.
Frost & Sullivan has the following six recommendations for the Government to implement successful Smart City initiatives in India:
  1. Encourage open collaboration and social involvement;
  2. Engage stakeholders throughout the Smart City development cycle;
  3. Identify the right business and partnership models;
  4. Develop a single organized administration body for resource allocation and effective channelization;
  5. Implement three-tier governance with horizontal and vertical coordination between various organizations; and
  6. Focus on becoming citizen-centric.
Suchitra Chakravarti, Consulting Analyst, Public Sector Practice, Frost & Sullivan said, “Integrating formerly isolated legacy systems is one of the most important and challenging points in terms of achieving a sustainable and efficient Smart City. Furthermore, approximately 80% of Indian cities do not have a development plan, which is critical in identifying potential improvements and planning sustainable Smart City developments.”
Smart Cities of India, 2016–2021 is part of Frost & Sullivan’s Public Sector Growth Partnership Service program.
Source: Businesswire