Indian state Gujarat has completed 67 percent of its 335 Smart City projects, according to data tabled in Lok Sabha. Smart City projects worth Rs 13,496 crore are under various stages of implementation in the state.
The global market for smart city business estimated at $741.6 billion in 2020 is projected to reach $2.5 trillion by 2026, growing at a CAGR of 22.5 percent over the forecast period.
The Smart City market in the United States is estimated at $233.9 billion in 2021, while China’s Smart City business is forecast to reach $602.7 billion by 2026.
Surat has completed the maximum number of projects. Gandhinagar, the state capital, has completed the least number of projects so far, according to the data accompanying a written reply by the Union Ministry of Housing and Urban Affairs to a question by BJP MPs Rajesh Chudasama and CR Paatil in Lok Sabha.
Gandhinagar, Ahmedabad, Surat, Rajkot, Vadodara, and Dahod were among 100 cities selected between January 2016 to June 2018 to be developed as smart cities, Financial Express reported.
Of Gujarat’s 335 Smart City projects, Surat’s 82 projects are worth Rs 3,106 crore, followed by Rajkot (72 projects worth Rs 3,248 crore) and Ahmedabad (with 68 projects worth Rs 3,268 crore). Dahod has the least number of projects with 37 worth Rs 1,004 crore.
Gujarat state has completed 226 Smart City projects worth Rs 6,297 crore. Surat has completed 70 projects worth Rs 2,054 crore, while Ahmedabad has finished 57 projects worth Rs 2,056.
Gandhinagar’s 11 completed projects are worth Rs 237 crore. The state capital’s figures are even lower than Dahod, a predominantly tribal city where 22 projects worth Rs 435 crore have been completed.
Another 104 Smart City projects worth Rs 6,032 crore are on “work order stage” in these six cities, with Rajkot having the maximum number of such projects at 45 (worth Rs 1,748 crore). Five projects worth Rs 1,167 crore are at the tender stage.
India began releasing funds to Gujarat under its Smart Cities Mission in 2015-16. Till the 2022-23 fiscal, the Union government has released Rs 2,139 crore for Gujarat with the maximum Rs 498 crore going to Surat, followed by Rs 416 crore for Ahmedabad, and Rs 343 crore for Gandhinagar. The other three cities have received Rs 294 crore each from the central funds.