India completes 228 PPP projects worth Rs 22,000 crore under Smart Cities Mission

New Delhi, India (Urban Transport News): A virtual roadshow to showcase PPP opportunities under the Smart Cities Mission was organized today by the Ministry of Housing and Urban Affairs (MoHUA) and Invest India, the National Investment Promotion and Facilitation agency. This event was the first such investor roadshow providing an opportunity to various Smart City CEOs to directly showcase PPP opportunities from their cities to private investors and start-ups. The opening session was addressed by Manoj Joshi, Secretary, MoHUA,  Deepak Bagla, MD & CEO, Invest India, and Kunal Kumar, Joint Secretary and Mission Director, Smart Cities Mission, MoHUA. Participants included senior officials from Smart Cities, private sector infrastructure and technology companies, and startups.             

During the roadshow, the Ministry stressed upon the importance of private sector participation in the progress of the Smart Cities Mission. There is a need for innovative solutions to develop the cities in a smart manner, and with the support of the private sector, the Mission had successfully completed 228 PPP projects worth Rs 22,000 crore across 60 plus cities. It was highlighted to investors that more than 160 PPP early-stage projects worth INR 15,000 crore could benefit from private sector participation, both in terms of investment and development.

Addressing the virtual roadshow, Manoj Joshi, Secretary, MoHUA said, “The Smart Cities Mission aims to drive economic growth and improve the quality of life through comprehensive work on social, economic, physical and institutional pillars of each city. Under the mission, the government has focussed on innovative digital technologies and solutions furthering its ‘Digital India’ mandate. Many projects related to e-governance, mobility, integrated traffic management and solid waste management have been very successful, and many more are envisaged."

The program also highlighted the need for driving continued participation from across the globe and the opportunities hosted on India Investment Grid, the portal developed by Invest India, that has received over 3.5 million views from more than 195 countries, with Smart Cities projects attracting increasing global interest.

PPP opportunities were showcased by CEOs from 10 Smart cities (Ranchi, Nashik, Nagpur, Srinagar, Pune, Gwalior, Imphal, Bilaspur, Shivamogga and Warangal) in 4 sectoral sessions, vis. Urban Transport, Commercial Infrastructure & Hospitality, Education and Energy. The projects cover areas such as market redevelopment, multi-level smart parking, urban mobility, solar power generation, development of multi-modal transport hubs as well as the establishment of the educational hub. 

"India has seen hugely positive interest from global investors on opportunities in infrastructure, including those from the Smart Cities Mission. There is enormous potential for fruitful partnerships with the private sector to unlock the new India growth story,” said Deepak Bagla, CEO, Invest India.

The audience consisted of established players in the Smart Cities ecosystem as well as new entities looking to foray into this rapidly growing space, with more than 200 attendees from about 100 organizations, including infrastructure and technology companies, start-ups, trade associations, financial investors, and multilateral agencies participating in the event.

“The Smart Cities Mission provides an opportunity to private players to participate in building sustainable infrastructure through the application of smart development solutions and innovative funding mechanisms," said Kunal Kumar, Joint Secretary & Mission Director, Smart Cities Mission.

The roadshow, organized as part of the Azadi ka Amrit Mahotsav activities under MoHUA, sought to provide an impetus to enabling stronger partnerships between the private sector and Smart Cities.