Smart Cities and Infrastructure Joint Working Group for JETCO – Background Paper
India and the United Kingdom share long and flourishing economic trade ties. Today, both markets stand at the brink of the next phase of reform and expansion that present great opportunities for business and wider society. India is looking at an urban transformation with an array of projects announced or already launched. India is projected to spend some USD 1 trillion by 2020 on a spectrum of infrastructure projects in road transport, ports, airports, power and urban regeneration, rail, new cities and towns.
Likewise, the UK is coming up with several infrastructure initiatives that will pave the way for Indian companies to explore a variety of new business engagement opportunities.
Both countries are excited about the significant potential their markets hold for each other, building on strong economic trade ties and working towards taking their economic collaboration to the next level.
As part of that strengthening partnership, we are happy to share with you the India-UK joint report on infrastructure and smart cities conceptualised and ﬁnalised by the Joint Working Group (Infrastructure and Smart Cities) of the India – UK Joint Economic and Trade Committee (JETCO). The India-UK JETCO was established on 13th January 2005 to develop a strategic economic relationship and to develop business led vehicles to enhance bilateral trade and investment relations between two countries.
This report is one of the many initiatives undertaken by the Joint Working Group to identify new areas of cooperation and strengthen existing ones. The report identifies current and upcoming business opportunities in the markets of India and the UK along with their respective market barriers. The report also highlights some of the policy level interventions required from both the governments of India and the UK to eliminate these barriers and facilitate increased bilateral engagement.
We hope you will find the report useful. Your suggestions and feedback are welcome.