Confederation of Indian Industry (CII) in association with their Knowledge Partner, Brickwork Ratings released a report titled ‘Proposed 100 Smart Cities & Industrial Corridors: Developing Innovative Infrastructure Financing options’ during the Financial Market Conclave 2015: Changes for Growth organized by CII on 27 June, 2015 at Kolkata.
Currently while 30% of the Indian population resides in urban centers, these centers contribute around 65% to the national GDP. It is projected that urban India will contribute about 75% of national GDP in the next 15 to 20 years while another 300 million people will get added to the existing 300 million dwelling in Indian urban centers. The speed of urbanization will exert immense pressure on the urban infrastructure, urban finance, natural resources and quality of urban life. In order to manage this high level of urbanization, it is imperative for the Government to resort to smart concepts and smart solutions. Government of India has thus decided to develop 100 smart cities in India, as highlighted by the Finance Minister during his budget speech of July 2014.
Though the government has committed to the development of smart cities in India, the state level strategies for quick implementation needs to be formulated and the operating model needs to be finalized.
The CII-Brickwork Rating study attempts to capture the innovative concept of smart cities, its current status, the Policy initiatives and the Innovative Models that are required for financing the Infrastructure.