With a projected 30 per cent growth in city size in the next 12 years, there is a critical need for diverse models of sustainable urban development to ensure their vitality matches their expanding scale.

To achieve a robust economy, ranging between USD 7 trillion and USD 10 trillion, our cities must form the cornerstone of infrastructure development, complementing roads, ports, and national frameworks. Every state and city must elevate their capabilities to propel this growth.

Satish Kamat, President of Operations at Sri City, conveyed this during a keynote address at the BW Sustainable World Awards.

Kamat, echoing the Finance Minister’s projections, emphasised, “The minister’s projection of 50 per cent urbanisation in India over the next decade translates to approximately 650 million people residing in cities. With a projected 30 per cent growth in city size in the next 12 years, there’s a critical need for diverse models of sustainable urban development to ensure their vitality matches their expanding scale”.

Drawing inspiration from the Hong Kong Shenzhen model, Kamat pointed out that, much like Hong Kong served as a manufacturing and economic hub, Shenzhen flourished through strategic development, particularly with special economic zones. He highlighted Sri City’s aspiration to replicate this success, establishing growth centres near Chennai that independently foster infrastructure and development, thereby ensuring sustainable growth.

Discussing Sri City’s financials, Kamat revealed that the total investment of all the companies combined has surpassed USD 4 billion, creating almost 60,000 new industrial jobs in an area where the total population was less than 3000.

Underscoring the company’s commitment, Kamat emphasised its focus on fostering local economic growth and supporting entrepreneurs within its operational framework.

“Our commitment extends to aligning the aspirations of local jobs and businesses with our own, ensuring inclusive development and accountability. Our governance model works collaboratively with state governments to promote economic development. Leveraging initiatives like ‘Make in India’ and ‘Aatmanirbhar Bharat,’ combined with the business-friendly policies of the state government, has significantly contributed to attracting diverse and high-quality customers to Sri City,” reflected Kamat.

Outlining the company’s trajectory, Kamat stressed that through strategic industrial development, the company actively drives economic growth, enhances organisational productivity, and bolsters economic resilience. The impact of their efforts is evident across a spectrum of industries, reflecting their dedication to shaping a robust and sustainable economy.