KOLKATA: Videocon Telecom is in advanced talks to float a joint venture with three international smart city solution providers even as it prepares to gradually exit the spectrum-dependent mobility business, a top company executive said.

“Videocon Telecom has shortlisted three leading global companies based out of the US, Israel and Europe respectively for a JV that will drive our diversification into the smart cities business, and we will shortly finalise a foreign partner,” director and chief executive Arvind Bali told ET. The European smart city solutions provider is learnt to be based in Sweden, but Bali did not confirm this.

“The proposed JV will participate in upcoming government tenders relating to smart city projects, and the decision to bring in a foreign JV partner is aimed at delivering the gamut of smart solutions ranging from smart metering, smart parking, esurveillance, to smart home solutions,” said Bali.

Last year, the Modi-led government had proposed developing smart cities as a way to push economic growth and reduce pressure on India’s existing cities, which have inadequate infrastructure to manage the rapid influx of people from villages.

Source: ETTelecom