ZTEsoft, a subsidiary of ZTE Corp, has offered to invest Rs 500 crore (around $US78 million) in the Indian government's smart cities project, which aims to establish 100 such enclaves with an outlay of Rs 48,000 crore over the next five years. The Ninjang, China-headquartered company, which sells operations and billing system solutions worldwide, will also launch transportation and smart card products in India.
According to ZTEsoft, the government's smart cities project received the Indian Cabinet approval last Wednesday and guidelines are expected next week. According to the plan, 20 cities will be selected this year, followed by 40 each in the next two years. The company also plans to invest about Rs 40 crore to set up a dedicated centre of excellence to work with Indian government for various smart city projects.
ZTEsoft said that it had also developed a number of smart cities in China and neighbouring countries
Ben Zhou, CEO, International Operations, ZTESoft
We are very positive about the Indian market. The government's outlook seems very positive about investments and they have shown great faith in Chinese counterparts.
Image by Bruno Corpet (Quoique) (Own work) [GFDL or CC BY-SA 3.0], via Wikimedia Commons
