Last May, post elections, PM Modi promised India a stream of 100 smart cities in the country by the year 2020 to attract financial investments, employment and solve the problem of swelling urban population. The first of them is set on the banks of Sabarmati by the name of Gujarat International Finance Tec-City (GIFT).
The city doesn't hold much as yet, apart from two office blocks and that's pretty much it. But it does hold a lot of promises and has been modeled to provide high profile luxuries that have only been available in cities like Singapore and Dubai.
The city is set to compete with India's very own financial capital, i.e. Mumbai. It is promised to attract financial institutes and brokers who would make this city full of investments and a money maker. The increasing urbanization problem will also be solved as the cities like Delhi, Mumbai and Pune are loaded with people with very less space to settle.
According to estimates from consultants KPMG the cost of making these cities will be around 1 trillion dollars. This plan needs to pan out for Modi's ambition of making India a self-sufficient country by providing jobs for the million or more Indians who join the workforce every month.
The problem with this plan is that India doesn't have professionals who could work properly on a huge scale and in a detailed manner. Hence, the dream of smart cities in India might become a faraway vision rather than a deeming reality.
But with Modi's efficient management and power over the nation the smart cities might see the light of day if not all 100 then maybe a few because what India needs is not the exact amount promised but even if a portion of it is fulfilled then also the county will see satisfaction. For all India has seen are fake promises by fake governments.
via Business - Google News http://ift.tt/1awxy1F
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