Home News Industry News ZTEsoft to invest Rs 500 crore in India’s smart city project

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

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    ZTEZTEsoft, a subsidiary of ZTE Corp, has offered to invest Rs 500 crore in the Indian government’s smart cities project.  India’s new smart city aims to establish 100 such cities with an outlay of Rs 48,000 crore over next five years. Government’s flagship project got Cabinet’s approval on 28th May 2015 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.  ZTE Corp said that it had developed a number of smart cities in China and neighboring countries.  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).  The Ninjang, China-headquartered Company, which sells operations and billing system solutions worldwide, will also launch transportation and smart card products in India.

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