NEW DELHI, May 26: YES BANK has launched the YES Institute Smart Urbanization Series, an innovative platform for convening key thought leaders to actualise the idea of ‘Smart Cities’.  Jagan Shah, Director, National Institute of Urban Affairs (NIUA), Jignesh Mehta from Centre for Environmental Planning and Technology University (CEPT) and Ranbir Saran Das, Vice Chairman Fairwood Group were the key speakers at the session. A knowledge report, ‘Growing the Smart Way’, which analyses the Smart Cities scheme and provides recommendations and a snap-shot analysis of the best practices worldwide was also released at the event today. The series seeks to involve government officials, international investors, civil society leaders, entrepreneurs, academicians, think-tanks and multilaterals in high-level discussions to bring smart city ideas to life. The first smart urbanisation dialogue focused on effective governance and the economic, social and environmental value of good spatial planning to reduce investment in infrastructure. Rana Kapoor, MD & CEO, YES BANK and Chief Mentor, YES Institute said, “Close to 8000 towns and cities are rapidly urbanising due to India’s economic growth. Our cities face a range of social, environmental and economic issues due to lack of planned urban development. The top 100 Indian cities comprise only 0.26 percent of the country’s total area yet account for 192 million people. Though the importance of urban centres as economic hubs is indispensible, their adverse impact on the environment cannot be ignored. I am confident that good urban design can give us an opportunity to bring together the best in technology and infrastructure to achieve compact, efficient and ‘Zero Carbon Cities’, thereby making development truly responsible.” Smart infrastructure requires a substantial investment of Rs 39 lakh crore, calling for innovative solutions to tackle social needs through frugal technologies and local expertise rather than an imitation of the western world. The approach to proactively designing infrastructure will prove to be a game changer not only for urban residents, but the economy as a whole in times to come. Speaking at the event, Preeti Sinha, Senior President and Global Convenor, YES Institute, said, “India is on the cusp of development with a sharp focus on smart cities as an engine for economic development, integration and inclusion. We believe smart urban design can direct and balance urban growth and actualise the government’s objective of ‘Sabka Saath, Sabka Vikas.’”