India Builds First Smart City With Population Rise

smart-cityWith India’s population rising drastically, it is tough to accommodate such a large population, the Indian government is now creating its first man made Smart city which can help stabilize the Urban population.

With the urban population in India expected to rise upwards of 400 million people, up to 820 million in population by 2050. This rise in population is the reason why they are building this man made city on the¬†Sabarmati river in Gujarat. After the first estimates, the cost of this city will reach upwards of $1 trillion US dollars according to KPMG. Reuters explained, “The plan is also crucial to Modi’s ambition of attracting investment while providing jobs for the million or more Indians who join the workforce every month.” Not only would they develop more housing and available real estate, the mini city which would be self sustaining city which would end up creating so many job opportunities.

With the US dollar to rupee ratio changing so drastically, currently at a 62:1 ratio (usually around 50:1), the cost for this is fairly lowered due to the price per dollar is so low. Prime Minister Narendra Modi spoke after his latest election about how he expects to have nearly 100 smart cities across India by the city 2022. Jumping ahead and creating these cities before the expected increase in popular is a great way the government will save money and also begin to boost the economy forward in a direction which is much needed.

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