Videocon Telecom seems to be in a plan to make smart cities their new revenue stream. The firm is desperately trying to form a joint venture with smart city solution providers from abroad, reports Economic Times (ET).
The talks with three solution providers from US, Israel and Europe has bordered to its advanced stage that the company will soon finalize its foreign partner. “With assistance from the smart city players, Videocon intends to diversify widely into smart city business,” Director and Chief Executive Officer Arvind Bali said to ET.
The strategy of the yet-to-be formed joint venture is to participate in the upcoming Government tenders relating to smart city projects. Beyond telecom services, this joint venture will provide solutions such as smart parking, smart surveillance, smart home solutions, smart metering etc.
Modi Government has already confirmed its plan to develop more smart cities in India as an effort to reduce the existing burden on the current cities. More people from villages are flocking into the cities, making cities inept in providing necessary infrastructure.