Today numerous cities in India are rapidly moving towards a future that is smart and urbanized. The only mission these cities have is to make use of technology in a way that the overall economy of the country gets boosted, the use of resources, and the quality of life gets better. Today every policymaker, technologist, and urban planner wants to turn this vision into a reality and integrate economic policy with the governance of a smart city.
Convergence of Economic Policy and Smart City Governance
Economic policy and smart city governance are interlinked ranging from infrastructure investment to labor markets. On the other hand, the implementation of policies and technologies that enable cities to function more efficiently and equitably falls under the rubric of smart city governance. A merging of these two worlds can unlock opportunities for urban development.
Smart Cities Mission is an experiment with great potential in Indian urban development. Since the inception of the Smart Cities Mission in June 2015, there have been several innovative ideas such as competition among cities for the selection of 100 smart cities; stakeholder-driven project selection; formation of Smart City Special Purpose Vehicles for implementation; and deployment of technology and digital solutions for improving urban government. Each of the 100 Cities has developed a diverse set of projects, many of which very unique and being implemented for the first time, thus improving the Cities’ capability and experience and achieving larger transformational goals at the city level. According to the press release published in July 2024, the Smart Cities Mission is extended till March 2025.
According to the press release, The Mission has been getting multiple requests from some State/City government representatives, to grant some more time to complete the balance 10% projects. These balanced ongoing projects are in an advanced stage of implementation and got delayed due to various on-ground conditions. It is in the interest of people that these projects get completed and contribute towards the ease of living in their urban areas.
The Role of Economic Policies in Urban Development
With the help of economic policies, today, public enterprises contribute to urban development that boost collaborative efforts. In the longer run, this helps in creating regulatory conditions that push innovation, secure intellectual property, and encourage fair competition. Smart cities should be synonymous with sustainable cities. Economic policies need to support green technologies and practices that do not come at the expense of the environment. This can be achieved by offering incentives for renewable energy projects, setting up energy-efficient infrastructure, and creating sustainable transport systems.
The “Make in India” campaign was initiated to make India a global manufacturing hub. The objective was to boost investments, encourage innovations, enhance skills development, promote employment generation, and build a manufacturing ecosystem in the country. In 2020 this Make in India initiative received further impetus under AtmaNirbhar Bharat Abhiyaan with a strategic focus on future-proofing the economy from external dependence.
One of the most essential factors of smart city initiatives is advanced traffic enforcement and management. This plays an important role in saving numerous lives and creating an urban environment that is safe and secure. That’s not all, using technologies like real-time data analytics, AI-enabled traffic cameras, and systems can help cities monitor and have control over the efficient flow of vehicles.
Additionally, investment in smart traffic infrastructure can be encouraged through public-private partnerships and subsidies, making it financially viable for cities to adopt these systems. Another reason is that favoring such kinds of economic policies promotes continuous improvement as well as innovation toward smart transport system funding itself.
Smart Cities in Action
Smart cities like Agra, Lucknow, Kanpur, Bhubaneswar, Ranchi, Bareilly, Raipurand many more exemplify the potential of this integrated approach. Through these approaches that combine economic strategy with technological innovation into comprehensive urban planning, they create models for others to emulate as well as measure their success against them. The foundation of smart city governance is data and economic policies support this establishment of robust data infrastructure that will help cities to gather, analyze, and use this data effectively. This not only invests in the security of data and privacy measures but protects the citizen’s information. With the help of data-driven decision-making, India can strengthen its urban planning, improve service delivery, and optimize resource allocation.
A Vision for India’s Urban Future
The integration of economic policy with smart city governance is not merely an option but a necessity for shaping India’s urban future. By fostering collaboration, promoting sustainability, ensuring inclusivity, leveraging data, and building resilience, we can create smart cities that drive economic growth and enhance the quality of life for all citizens. As we are moving towards this path, innovative companies will play a pivotal role in our vision to make this a reality. The future of India to become an urbanized nation looks very promising and with the right approach toward policy-making and advancement in technology, the country will become the beacon of progress and prosperity.
Guest contributor Kapil Bardeja is the CEO and Co-founder of Vehant Technologies, a provider of smart security and surveillance solutions based in Noida. Any opinions expressed in this article are strictly those of the author.
