International | October 2012
India signs pact with UK on urban development
Governments of India and UK has signed a memorandum of understanding (MoU) to work together towards urban development projects.
The agreement may promote co-operation in the areas of sustainable master planning; transport planning; land economics; heritage management; regeneration governance; Regeneration capacity building and public private partnership financing arrangements.
Union Minister of Urban Development, Kamal Nath and Vince Cable, the British Secretary of State for Business, Innovation and Skills signed an MoU on Urban Regeneration and Development in London.
Speaking on the occasion, Kamal Nath has expressed appreciation of the urban regeneration works carried out in London and felt that India could benefit from the British experience.
The minister also highlighted the immense challenges and opportunities in the urban sector in India. He informed that India would soon launch the next phase of the Jawaharlal Nehru Urban Renewal Mission and that the Government of India is keen to encourage PPP in urban sector especially in larger cities. He invited the international firms including British firms to participate in the process.
Kamal Nath stated that both, India and Britain would benefit from the MoU, as it would provide an enabling platform for the officials, professionals and business leaders to meet and share knowledge and best practices in the urban sector.