Mr Sridhar Gadhi, Founder and Executive Chairman, USA-based Quantela, and winner of ‘Technology Pioneer 2019’ award, World Economic Forum said that smart city development is a trillion-dollar opportunity and is estimated to be US$ 1.3 trillion in market size by 2025. He was addressing a gathering of academics, researchers, industry experts, and students on the day 2 of the 3-day Global Impact Summit at Woxsen University in Sangareddy.
Sharing his experience and his journey into delivering social impact and being profitable at the same time, he said that though cities occupied just 2% of the surface area of the world they house nearly 50% of the world population. And 2.5 billion people are expected to move to urban areas by 2050. Cities create 18% of the economy of our country. Cities are responsible for 75% of the greenhouse gases emission, he said. But cities contribute 80% of the global GDP, he added.
Sridhar Gadhi recalled how businesses sniggered at him when he said that he is working for city improvement. People used to complain of working with the Government, he said. Quantela is into automating and optimising urban infrastructure operations. He said that the Government is not in the business of making money but in the business of providing services to make the life of the citizens easier.
