$150bn needed for Indian smart city project, says Deloitte report

Indian smart city project: Indian Prime Minister Narendra Modi’s dream of creating 100 smart cities will require an investment of over $150bn over the next few years, with the private sector probably having to put up 80% of it, according to a new report from Deloitte’s.
Over the course of 2016, service providers and content providers will invest heavily in city-wide Wi-Fi networks which are set to be the back-bone for smart city services, the report predicts. “As smart solutions are heavily dependent on ICT, service providers will play a significant role in smart cities. In 2016, service providers will participate in (and in many cases lead) consortiums [providing] smart or digital solutions for various city and state governments,” Delotte director PN Sudarshan forecast.
While several cities have made incremental investments in smart solutions, the challenge would be to replicate these on a larger scale, he added.”Even as funding for these smart cities is an area of concern, the major challenges remain with respect to the development of smart cities project management, government decision making and policy and regulatory framework.”
The government recently announced the list of first 20 cities to be developed as ‘smart cities’ with Bhubaneswar topping the list followed by Pune, Jaipur, Surat, Kochi, Ahmedabad, Jabalpur, Vishakapatnam, Sholapur, Davangere, Indore, New Delhi, Coimbatore, Kakinada, Belagavi, Udaipur, Guwahati, Chennai, Ludhiana and Bhopal. New Delhi has already initiated two programmes with an initial outlay of $7.5bn for  two initiatives aimed  upgrading 500 cities, the  Smart Cities Mission and the Atal Mission for Rejuvenation of Urban Transformation (AMRUT).

Source: indiatimes