The PHD Chamber Of Commerce And Industry (PHDCCI) Today Hosted The “PHDCCI Sustainable Cities Summit”
“Focus on sustainable cities and a balanced circular economy will be crucial, as India move towards $35 trillion economy”: Shri Abhijeet Sinha, National Program Director, Ease of Doing Business; Project Director - National Highways for EVs
The PHD Chamber of Commerce and Industry (PHDCCI) today hosted the “PHDCCI Sustainable Cities Summit” under the theme “Viksit Bharat@2047 – Building Resilient Cities of Tomorrow” at PHD House, New Delhi.
The summit witnessed insightful discussions and the launch of a significant knowledge report on the financing of sustainable cities.
In his address, Guest of Honour, Mr. Abhijeet Sinha, National Program Director, Ease of Doing Business; Project Director – National Highways for EVs; President – CPOs of India; and former CAG Member, shared India’s journey from a jittery economy in 2013 to becoming the world’s 5th largest economy in 2023. He underscored the importance of sustainability and resilience in this transformation. Mr. Sinha highlighted the global recognition of Mission LiFE, adopted by G20 countries in the Delhi declaration. He drew a cultural parallel, contrasting India’s Vedic tradition of respecting nature with the resource-centric views of Abrahamic cultures. He also stressed on building a future where economic progress harmonizes with environmental stewardship.
Dr. Ranjeet Mehta, CEO & Secretary General, PHDCCI in his welcome remarks emphasized the economy’s transition towards green initiatives. He highlighted the importance of human-centric sustainable cities, urging a collective effort beyond governmental dependency. Dr. Mehta introduced the government’s Mission LiFE (LiFEStyle for Environment), aimed at promoting sustainable living practices initiated by the Central Pollution Control Board (CPCB). He stressed the need for individual commitment to sustainability, starting from daily life practices such as conserving water and electricity. Dr. Mehta particularly urged the younger audience to lead by example in adopting sustainable habits.
Mr. Ashish Agarwal, Director, Resurgent India, in his theme remarks announced the launch of the knowledge report titled “Financing of Sustainable Cities” at the summit. He expressed gratitude to PHDCCI for highlighting this crucial topic. Mr. Agarwal discussed the active role of the Smart Cities Mission in India, noting the increasing urban population and the resulting need for sustainable solutions. He explained the concept of smart cities and the challenges in securing funding, revealing that private sector investment in sustainable city funding is currently at a mere 5%. Highlighting innovative funding mechanisms, he spoke about Green Bonds, Municipal Bonds, and Land Value Capture (LVC), citing examples from cities like Toronto, Cape Town, San Francisco, and Hyderabad.
Mr. Uddhav Poddar, Managing Director, Bhumika Group, addressed the impact of rapid urbanization on limited resources, advocating for the urgent adoption of sustainable practices. He pointed out India’s unique position due to its climate, population, and resources, which present a significant opportunity for leading the sustainable cities initiative. Mr. Poddar also mentioned various government projects operating under the Public-Private Partnership (PPP) model.
Dr. Jatinder Singh, Assistant Secretary General, PHDCCI, concluded the summit with a vote of thanks, acknowledging the contributions of all speakers and participants.
The Summit deliberated on the crucial aspects of sustainability in the technical panels themed, ( 1) Sustainable Urban Planning, Architecture, Real Estate & Infrastructure; (2) Sustainable Mobility and Transportation; (3) Navigating Sustainable Future through Green Energy; and (4) Sustainable Health Management
The summit was supported by Anant Raj Ltd. and Bhumika Group, with Resurgent India serving as the Knowledge Partner.