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Siemens signed a Memorandum of Understanding (MoU) with Infrastructure Leasing & Financial Services (IL&FS) and Gujarat International Finance Tec-City Company Limited (GIFTCL) to develop smart mobility solutions for Gujarat International Finance Tec-City (GIFT). GIFT, a globally benchmarked smart city on the banks of the Sabarmati River in Ahmedabad is one of the most ambitious projects undertaken in the Indian infrastructure space and is being designed as a hub for the global finance services industry. Siemens will collaborate with IL&FS to study, develop, and, design state-of-the-art, smart, city-level mobility solutions for individuals, groups as well as moving masses of people both within the GIFT city and between other nodes. Joe Kaeser, President and Chief Executive Officer, Siemens AG, said that the MoU will establish additional local competences, which will support the "Make in India" program initiated by the Prime Minister. The program focuses on energy management, mobility, smart cities, and health technology.
Hari Sankaran, Vice-Chairman and Managing Director, IL&FS, said that the GIFT city is designed to generate employment in the financial and IT services sector. It will take advantage of Gujarat and India's rich availability of skilled manpower in these sectors. International experience has shown that when such initiatives take off they have huge multiplier impacts on the regional and national economies.
Sunil Mathur, Managing Director and Chief Executive Officer, Siemens Limited, said that smart cities are a result of intelligently addressing and integrating four core pillars for sustainable urban transformation: integrated and multimodal mobility, reliable power, secure and smart buildings, and clean environment. GIFT City in Gujarat, with its integrated city development approach has all these elements, and is the ideal blueprint for Greenfield Smart Cities in India. IL&FS is a pioneer in launching infrastructure projects in India and has been involved in numerous successful urban projects. Through this collaboration GIFT City will emerge as a financial services hub that is comparable with other global financial centers.