ZTEsoft bets big on smart cities in India; to invest Rs 500 cr

Telecom equipment maker ZTE's software arm ZTEsoft will ramp up its workforce in India and invest about Rs 500 crore over the next five years as it looks to cash in on the multi-billion opportunity in government's smart cities initiative.
The company, which has deployed solutions across 40 smart cities globally, is keen on partnering Indian government to offer its technology and expertise.
"We have participated in 40 smart cities across the world, including 10 in China. We are ready to invest Rs 500 crore over the next five years to help the government in its target of setting up 100 smart cities in India," ZTE soft Technology CEO International Ben Zhou told PTI.

He added that the funds will be invested in ramping up its workforce in India, delivery operations and local facilities.
"Every project that we get will require certain dedicated manpower, about 100 people per smart city project...We are looking at getting about five projects at least," ZTEsoft Managing Director India and South Asia (Enterprise and Government Business Unit) Prasoon Sharma said.
He added that ZTEsoft will invest about Rs 40 crore to set up a dedicated centre of excellence to work with Indian government for various smart city projects.

The company employs about 80 people in India across various roles like research and development, sales and delivery.

Talking about the Indian market, Zhou said ZTEsoft had registered revenues of Rs 250 crore in 2014 and the company is confident of doubling its revenue this year.
Last week, the Union Cabinet gave its nod to NDA government's flagship project of 100 smart cities .
Smart City is Prime Minister Narendra Modi's pet project aimed at recasting the urban landscape of the country by making cities more livable and inclusive besides driving the economic growth.
Each selected city under the ambitious scheme would get central assistance of Rs 100 crore per year for five years.