One of the most critical segments of Smart City initiative is building up an efficient urban mobility and public transport framework that provides a variety of transport options. Towards this goal, recently the government has approved several large projects within the ambit of the urban infrastructure development, especially in road transportation. Close to 90 projects in the roads and flyover development segment, around 10 in Mass Rapid Transport (MRT), some in intelligent traffic management and integrated multimodal transport have already been initiated. The Government has plans to develop 200 low-cost airports in tier-II and tier-III towns across the country. Plans are also in place to develop 111 river-streams as waterways for coastal shipping to achieve the twin purpose of reducing freight costs and as well as the road congestion. The envisaged smart transportation and smart infrastructure would further increase the economic activity in the automotive sector in the next decade, which has been a major contributor to the country’s GDP.

With increasing opportunities, the Central and State Governments have taken various initiatives focused on the two major trends in the transportation sector. These trends include smart fuel vehicles and smart technology, such as introduction of Electronic Stability Program, Anti-lock braking system, crash testing, smart cards, electronic toll collection, real time parking management, etc.). The Government of India has also come up with various policies and schemes such as National Urban Transport Policy 2014, Atal Mission for Rejuvenation and Urban Transformation (AMRUT), Automotive Mission Plan (AMP2026), Make in India Scheme, Skill India programme and FAME (Faster Adoption and Manufacturing of Electric/Hybrid) India Scheme to keep the momentum going. These initiatives along with the policies and scheme would transform the urban transport system into an efficient system over the next decade.

Highlighting the huge opportunities in the segment, Shushmul Maheshwari, CEO, RNCOS said, “The focus is on improving fuel efficiency and reducing Green House Gas emissions. Hence, electric vehicles, hybrid electric vehicles and fuel cell vehicles seem to be the future of vehicle technology. He further added, “With increasing awareness, the mindset of buyers is slowly changing and consequently, there is a growing acceptance of smart fuel vehicles.”

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ABOUT RNCOS

RNCOS is a leading industry research and consultancy firm incorporated in 2002. As a pioneer in syndicate market research, our vision is to be a global leader in the industry research space by providing research reports and actionable insights to companies across a range of industries such as Healthcare, IT and Telecom and Retail etc. We offer comprehensive industry research studies, bespoke research and consultancy services to Fortune 1000, Trade associations, and Government agencies worldwide.