Urbanization in India is occurring at a breakneck pace. The speed of growth in cities poses huge challenges, but also offers big opportunities. Currently, 31% of India’s population lives in cities; these cities also generate 63% of the nation’s economic activity. These numbers are rapidly increasing, with almost half of India’s population projected to live in its cities by 2030.
In response to the growing size and influence of cities, the Indian government, under the leadership of Narendra Modi, has set a bold and ambitious urban development agenda. Prime Minister Modi’s signature program is called the Smart Cities Mission, which aims to improve the quality of life in 100 of India’s fast-growing urban centers. Smart Cities focus on the most pressing needs and on the greatest opportunities to improve quality of life for residents today and in the future.
See Website: http://smartcities.gov.in/
The dynamism of the urban service sector will depend critically on data driven solutions, streamlining service delivery for greater efficiency and broad inclusion to serve the expanding urban middle class while delivering a better quality of life in terms of environment, health, education, transportation and recreation. The promise of urban life is the promise of greater community and a higher standard of living.
CAIT believes that by embracing digital payments and harnessing the data that payments and usage generate, cities can become smarter and deliver on their mandate to their citizens and traders can prosper with increase in business by being at the forefront of technology.