There has been a lot of buzz around smart cities in India ever since the Narendra Modi Government announced an investment of $1.2 billion to create 100 of them. For the common man, a smart city is a settlement which overcomes day-to-day challenges, bridges the gaps between people’s needs and civic realities and enhances the overall quality of life; such as providing clean water, managing the growing mountains of garbage, treating sewage, building a robust public transport system, managing traffic jams and providing a safe and secure environment for women and senior citizens. Other significant elements to this model include citizen-centric administration, education, health care, public-private partnership, and regulations for commerce and utility services, etc. — all essential to the delivery of innovative smart cities of the future.
Ram Sarvepalli, Leader- Advisory Services, India and Partner – Emerging Markets Center, shares upcoming trends in Emerging Markets (EMs) and how companies can grow in the changing business environment.
At the beginning of the 21st century, Emerging Markets were positioned as shining stars, driven by buoyant global trade and easy financing. However, their fate has proven to be dynamic over time. Their annual GDP growth rate went up from 3.8% in 2001 to 8.7% in 2007 and then down to 4.7% in 2013. As a result, companies are relying on a new set of drivers to rebound their growth in these markets.