Bloomberg bets on India story, to back Modi’s 100 smart city project

bloomberg-indiaPrime Minister Narendra Modi’s pet project of building 100 eco-friendly smart cities has got a boost from former NY Mayor and billionaire philanthropist Michael Bloomberg.

Mr Bloomberg, also UN secretary general’s special envoy for cities climate change, is on his second visit to India and underlined that he was “bullish on India’s future.” The billionaire struck all the right notes. He rode on a green painted CNG auto from Taj mahal Hotel in New Delhi to Ashoka hotel where he spoke about India’s leadership role in global climate change negotiations. “The more India invests in sustainable cities, the stronger its economy will grow… PM Modi is showing that confronting climate change goes hand-in-hand with smart economic growth,” said Mr Bloomberg.

“I can tell you that, as the owner of a company that bets connects businesses and banks to capital markets, we are very bullish on India’s future,” said the former mayor of New York.

He also Met Prime Minister Narendra Modi and unveiled a partnership between Bloomberg philanthropies and India’s Urban Development Ministry to assist India in building smart cities. A formal announcement was made after Mr Bloomberg met Mr Modi. “Under the partnership, Bloomberg Philanthropies will provide assistance to the UD ministry to select cities for Smart Cities Mission funding on a continuous basis,” a statement from the prime minister’s office said.

Mr. Modi has been actively courting the developed countries like United States, Japan and Australia for building 100 smart cities, which could be a game-changer in transforming the Urban land Country. “The Smart Cities initiative is a challenging task, which nevertheless has to be undertaken to improve the quality of life for India’s urban citizens with stakeholder’s participation,” said Mr Modi.

Mr Bloomberg focused on traffic management and bolstering infrastructure. “We can prevent millions of road traffic fatalities and injuries through stronger laws, more effective enforcement and better infrastructure,” he said.


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