Economy

Smart city projects: Prime Minister woos global investors

Our Bureau New Delhi | Updated on November 17, 2020 Published on November 17, 2020

Prime Minister Narendra Modi on Tuesday invited investors to put money smart city development projects. He reiterated government’s commitment to make India a preferred global investment destination.

“If you are looking to invest in urbanisation, India has exciting opportunities for you. If you are looking to invest in mobility, India has exciting opportunities for you. If you are looking to invest in innovation, India has exciting opportunities for you. If you are looking to invest in sustainable solutions, India has exciting opportunities for you,” Modi said in his address to 3rd annual Bloomberg New Economy Forum.

He said that a vibrant economy, a business-friendly climate and huge market will incentivise investment opportunities. Beside these, there is a government which shall leave no stone unturned to make India a preferred global investment destination, he said while adding,” India is well on its way towards urban transformation. I have no doubt that with the help of all stake-holders, the civil society, academic institutions, industry and most importantly the citizens and communities, we will achieve the dream of resilient and prosperous global cities.”

This is second large gathering of global investors after global round table with top fund houses on November 5 which have been addressed by the Prime Minister.

Talking about investment potential in urbanisation, Modi said 100 chosen smart cities have prepared projects worth ₹2-lakh crore $30 billion. And projects worth almost ₹1.40-lakh crore or $20 billion have been completed or nearing completion. “To unleash the full potential of technology, Integrated Command and Control centers have been set-up in many cities. These centres are currently also serving as war-rooms to manage the Covid situation in various cities,” he said.

Highlighting importance of affordable housing in the prosperity of cities, Modi said that his government launched the ‘Housing for All program in 2015. He expressed satisfaction over the progress. “We will deliver more than one crore or 10 million houses to aspiring families in urban areas before the targeted deadline of 2022,” he said while mentioning an affordable rental housing initiative and enactment of the Real Estate Regulation Act.

Talking about sustainable mobility, he said that the work on Metro Rail is going on in 27 cities. “We are on track to deliver close to 1,000 km of Metro Rail system in the country by 2022,” he said.

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Published on November 17, 2020
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