ZTEsoft offers to invest Rs 500 crore in India's smart city project

NEW DELHI: ZTEsoft, a subsidiary of ZTE Corp, has offered to invest Rs 500 crore in the Indian government’s smart cities project, which aims to establish 100 such cities with an outlay of Rs 48,000 crore over next five years.

The Ninjang, China headquartered?-company which sells operations and billing system solutions worldwide, will also launch solutions for transportation and smart card in India this week over a two-day event.

“We are very positive about the Indian market,” Ztesoft’s chief executive officer of international operations Ben, who goes by one name, said. “The new government’s outlook also seems very positive about investments and they have shown great faith in Chinese counterparts.”

The NDA government's flagship project got Cabinet's approval last Wednesday and guidelines for the same are expected next week. According to the plan, 20 cities will be selected this year, followed by 40 each in the next two years. ET reported on Monday that the PM’s project could get a further boost with a template being readied by the European Union for making Indian cities more liveable, sustainable and energy efficient.

The software arm of ZTE Corp added that it had developed and delivered a number of smart cities in China and neighboring countries. It can leverage its experience, R&D capability and quick-to-market solutions for building the required infrastructure in India.

ZTEsoft will invest Rs 40 crore to setup ?a ?dedicated centre of excellence to work with Indian government for various project of smart cities and Internet of Things (IoT), Prasoon Sharma, managing director of enterprise and government business unit in India and South Asia for the company added.