Kochi will Equal Mumbai in GDP by 2030: Expert

Gaurang Pandya, managing director, United Technologies Corporation,  India (Climate, Controls & Securities) said Kochi will equal Mumbai in GDP by 2030 through rapid urbanisation.

Published: 08th February 2014 10:35 AM  |   Last Updated: 08th February 2014 10:35 AM   |  A+A-

Gaurang Pandya, managing director, United Technologies Corporation,  India (Climate, Controls & Securities) said Kochi will equal Mumbai in GDP by 2030 through rapid urbanisation.

Inaugurating the thought leadership forum for architects, on ‘Intelligent  Sustainability’ hosted by United Technologies Corporation (UTC) India, he said that Pune and Hyderabad will be two times of Mumbai in GDP by 2030.

“A key trend of our times is ‘urbanisation’ and for the first time in the history of mankind, more people are living in an urban setting than in rural ones. According to a 2010 McKinsey report, India will have 68 cities with populations of more than 1 million by 2030, compared with the current 42,” he said.

It is estimated that Indian cities are homes to 340 million people or 30 per cent of the population. By 2030, it is expected to house 590 million people or 40 per cent of the population.

To accommodate the moving population, 700 million square metres of residential and commercial space needs to be built every year till 2030 - that is equivalent to a new Chicago every year.

In developing countries such as ours, it is estimated that 70 per cent of all buildings that will exist by 2030 are yet to be built. Buildings, however, are known to consume 40 per cent of all energy. Such rapid growth will inevitably be accompanied by rising consumption and demand for energy, increasing green house gas emissions and putting severe constraints on natural resources.

A way needs to be found to ensure energy and environmental sustainability without compromising on economic and social progress. The buildings in India spent `1,50,000 crore for energy in 2012. In 2012, it will be `230,000 crore, Pandya added.

Karan Grover, principal, Karan Grover and Associates, Vadodra, said the days of building without thought are over. Today, the community is focusing on reduce, reuse and recycle. Innovation in energy and technology has produced a new era of understanding.

Rahul Kadri, principal, Kadri Consultants said that we don’t care about the buildings, they are incidental. What we really care about is the people who will really inhabit our buildings. Man is an integral part of nature. We are most comfortable when we have day light, we thrive. When we have natural air, we thrive, he said.

Architect B R Ajit, chairman, IGBC, Kochi, B S Harikrishna, president, ZED Communities and Shreeganesh V Nair, chief consultant, GTCS spoke.

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