Initiatives from Government of India
- Government of India has allocated INR 70.6 billion for Smart Cities budget in 2014-15.
- India plans 100 new smart cities and will develop modern satellite towns around existing cities under the smart city programme.
- India emerged as the world’s 3rd largest construction market by 2020, by adding 11.5 million homes every year.
- The Intelligent Building Management Systems market is around USD 621 million and is expected to reach USD 1891 million by 2016.
- Smart Buildings will save up to 30 percent of water usage, 40 percent of energy usage and reduction of building maintenance costs by 10 to 30 percent.
- The Government of India has allocated USD 13.95 billion in the Union Budget 2014-15 for the education sector, up by 12.3 percent from the previous year.
- Budget has allocated USD 81.38 million to set – up five new IIT’s and IIM’s.
- The Ministry of Human Resource Development plans to have 1000 private universities for producing trained manpower to meet services and industry requirements
- 100 percent FDI allowed in the education sector
- India’s online education market size expected to be USD 40 billion by 2017
- Health budget up by 27 percent in FY 2014-15 to USD 5.86 billion, with special focus on improving affordable healthcare for all
- FDI limit in the insurance sector increased to 49 percent from 26 percent
- Indian medical devices market to reach USD 11 billion by 2023
- Indian wellness industry is expected to reach around USD 16.65 billion by 2015
- The Government of India has approved a USD 4.13 billion plan to spur electric and hybrid vehicle production by setting an ambitious target of 6 million vehicles by 2020.
- Ministry of Urban Development plans to invest more than USD 20 billion on the metro rail projects in coming years.
- The proposed 534 km Mumbai – Ahmedabad high speed rail project will have an investment of around USD 10.5 billion
- India’s first monorail project at Mumbai will cost around USD 500 million, of which USD 183 million has been spent on phase I.
Smart IT and Communications
- Cloud Computing will evolve in to a USD 4.5 billion market in India by 2016
- Under the flagship “Safe City” project, the Union Ministry proposes USD 333 million to make seven big cities (Delhi, Mumbai, Kolkata, Chennai, Ahmedabad, Bangalore and Hyderabad) to focus on technological advancement rather than manpower
- Government of India and World Bank signed USD 236 million agreement for reducing disaster risks in coastal villages of Tamil Nadu and Puducherry
- Investment of about USD 1.2 trillion will be required over the next 20 years across areas like transportation, energy and public security to build smart cities in India
- Budget 2014-15:
USD 1.2 billion allocated for smart cities and FDI norms relaxed
• USD 83 million allocated for Digital India initiative
• PPP model to be used to upgrade infrastructure in 500 urban areas
- Smart City projects to create 10 – 15% rise in employment
- Ministry of Urban Development has plans to develop 2 smart cities in each of India’s 29 states
- Delhi Mumbai Industrial Corridor Development Corporation Ltd. (DMIDC) plans seven “smart cities” along the 1500 km industrial corridor across six states with a total investment of USD 100 billion