Oct282015
Posted at 5:53 PM
On Tuesday in New York City, U.S. Commerce Deputy Secretary Bruce Andrews met with U.S. companies and organizations for a roundtable hosted by 32 Advisors. In preparation for an upcoming U.S. company trade mission to India that Deputy Secretary Andrews will lead in February 2016, the roundtable focused on the myriad of opportunities and complexities that lie ahead for U.S. companies interested in participating in India’s Smart Cities Initiative. The Initiative announced by Prime Minister Modi in late summer 2014 addresses a global urbanization trend that projects India will add 500 million people to its urban population over the next four decades. This unlocks a valuable commercial opportunity for U.S. companies who have unique, resilient and best-in-class solutions to help build on the 98 Smart Cities identified by the Indian government.
The frank discussion touched on a number of topics but centered around financing, governance and smart neighborhoods. Today’s discussion highlighted a few potential avenues that the private sector will work toward, including municipal bond financing and strengthening public-private partnerships, in order to support U.S. companies as they work to secure Smart City projects. Several participants noted that all levels of the Indian government should further strengthen their cooperation in order to develop a clear framework of governance to address city development. In addition, participants suggested that U.S. companies develop smart neighborhoods within existing cities with an eye towards simplified transparent project tenders and quicker workable smart solutions for its citizens.
Deputy Secretary Andrews looks forward to further engagement with U.S. companies prior to his trade mission to better frame his discussions with the Government of India. He is also encouraged by the vision and positive steps that Prime Minister Modi and his team have outlined and looks forward to meeting with him and many of the local and state leaders who have the important task of preparing their cities for the great forces of urbanization.
The U.S. Department of Commerce and its partner agencies recognize that the commercial element of the U.S.-India relationship is important and will continue to engage industry and the Indian government to highlight U.S. company capabilities.
Making stops in Mumbai, Chennai, and Delhi, the Smart Cities Infrastructure Business Development Mission will help U.S. companies launch or increase their business in India, focusing on technologies, systems and services in the safety and security, intelligent transportation, water, wastewater, and power sectors. This engagement will drive and enhance the sustainable growth of India’s infrastructure sector, while making India’s growing urban centers more attractive to business and providing a better quality of life for India’s citizens.
For more information on applying for this trade mission, please visit http://www.export.gov/trademissions/smartcitiesindia2016.
