India, UK sign MoU on urban regeneration and development

LONDON: India and Britain today signed a memorandum of understanding on Urban Regeneration and Development during a meeting between Union Minister for Urban Development Kamal Nath and Business secretary Vince Cable.

Official sources here said the MoU envisaged promotion of cooperation in the areas of sustainable master planning, transport planning, land economics, heritage management, regeneration governance, regeneration capacity building and public private partnership financing arrangements.

Kamal Nath said India could benefit in this area from the experience of Britain, and highlighted the challenges and opportunities in the urban sector in India.

India, he said, would shortly launch the next phase of the Jawaharlal Nehru Urban Renewal Mission.

The Government of India was keen to encourage public-private partnership in the urban sector especially in larger cities, he said and invited the international firms, including British firms, to participate in the process.

During his visit here, Kamal Nath also participated in a roundtable organised by the UK India Business Council, attended by leading infrastructure companies. He also met Chancellor George Osborne.