Exploring the Economics of Smart Cities and their Business Opportunities in India
Dr. Batani Raghavendra Rao
Professor, Faculty of Management Studies,
Jain (deemed-to-be University), Bangalore
Preethi S1, Roopa G.P2, Sibangi Mishra3, Meghana V4, Jangala Jhansi Lakshmi5, Vandana Gowda6,
Daniel Vinod7
Student, Faculty of Management Studies,
Jain (deemed-to-be University), Bangalore
ABSTRACT
This study explores the economic potential and commercial prospects of smart cities, with a focus on the Smart Cities Mission in India. It highlights how technology-driven urban development can significantly transform city infrastructure, public services, and environmental sustainability. The research evaluates the financial returns from smart city investments, particularly in sectors like energy, transportation, and healthcare. It also examines the socio-economic impacts of smart cities, such as employment growth and improved quality of life. Furthermore, the study emphasizes the role of public-private partnerships, the importance of citizen participation, and the need for addressing challenges like cybersecurity, funding, and policy regulations. Through a mixed-method approach, combining quantitative data and qualitative insights, the research aims to provide comprehensive recommendations for investors, businesses, and policymakers, while predicting future trends through scenario-based simulations.
The purpose of this study is to examine the economic potential and commercial opportunities arising from smart city initiatives, with a particular focus on the Smart Cities Mission in India. The research aims to evaluate the financial returns of smart infrastructure investments and assess their socio-economic impacts, including improvements in public services, job creation, and quality of life. It also seeks to identify business prospects for companies involved in smart technologies and urban development.
Keywords:
Smartcities,economic potential, public-private partnerships, financial returns, IoT, AI, urban development, sustainability, infrastructure investment, cybersecurity, scenario-based simulation, public participation.
