Investment climate in Urban Indian areas in improving: Venkaiah Naidu

By Accommodation Times News Services

Venkaiah NaiduUnion Minister of Urban Development M Venkaiah Naidu recently help an extensive discussion with a delegation of 18 Canadian Infrastructure companies over the various imminent investment opportunities in Indian urban areas. During the discussion Naidu informed the delegation that investment climate in urban areas of the country is improving.

He added that the improving climate is due to launch of new initiatives like Swachh Bharat Mission, Smart City Mission and Atal Mission for Rejuvenation and Urban Transformation (AMRUT) under which urban local bodies are rediscovering themselves.

Elaborating on this, Naidu said that urban local bodies across the country have undertaken comprehensive urban planning including identification of infrastructure deficiencies at city level and evolving strategies to overcome them. Capacity building of urban local bodies is receiving priority attention to make them cope up with the challenges, he said.

“The Government has taken several measures to improve the ease of doing business in urban areas by streamlining approvals for investment projects which will facilitate investment flows” Shri Naidu said.

Giving an account of investment opportunities in urban areas, Madhusudhan Prasad, Secretary Urban Development said that the ongoing efforts to rectify deficiencies in basic urban infrastructure alone offers an investment opportunity of over US $ 1,000 billion and Smart City Mission offers even more. He urged the Canadian companies to participate in Special Purpose Vehicles to be floated under various new urban missions besides investing in projects.

The companies represented are involved in construction of high performance buildings, providing intelligent LED based lighting solutions, low power and cost effective embedded hardware and software technologies, sanitation solutions, solid waste management technologies, water treatment technologies, development of theme parks, converting solar fuel into light, architecture, planning and engineering solutions to urban issues.

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