Sweden can invest in Smart City projects: Venkaiah Naidu

NEW DELHI: India and Sweden should have frequent bilateral meetings to explore possibility of cooperation in urban development, Union Minister Venkaiah Naidu today said as he underlined that lot of opportunities are available for investment in Smart City projects.

During a meeting with a Swedish Business delegation led by Enterprise and Innovation Minister Mikael Damberg, Naidu stressed that a joint working group had already been set up between the two countries and "it is time to move forward".

"There should be frequent bilateral meetings/ dialogue between the two countries which can explore the possibility of cooperation in urban development," he said.

Naidu highlighted the importance of PPP model, Special Purpose Vehicle, credit rating of cities and said that there are lot of opportunities available for Sweden to invest in Smart Cities.

Appreciating the reforms being undertaken by Indian Government, Damberg said that he expects the relation between the two countries to go to a "next level".

He said that Sweden can contribute in Smart Cities, in terms of connectivity, transport and solid waste management.