France has reportedly committed to invest €2 billion into helping three Indian cities with their smart city projects, the Business Standard reports.
The three cities – Chandigarh, Nagpur and Puducherry, is expected to receive the investment from French companies backed by the French government.
According to founder of the Smart City Council (India) Pratap Padobe, the amount equals the amount French companies plan to spend in India’s nationwide smart city initiative. Pretap also revealed that tech companies from the US, Germany, Singapore and Japan, have also designated cities for smart city investment.
The Indian government will select an initial 20 cities to develop smart city projects by December 15, the report said.
While the enthusiasm to get in on India’s big smart city push should be a nice boost for smart city initiatives worldwide, it also shows a level of fragmentation in the industry. With the foreign partners each staking claims in different geographies and with no cooperation in sight, there is the danger that the final solutions won’t work together, resulting in a series of smart cities, instead of a smart nation.