Mumbai to be Shangai’s sister city
Mumbai will be sister city to China’s Shanghai according to a bilateral agreement that has been signed on Thursday between Mumbai mayor and her counterpart in Shanghai. Experts said that while this is a positive announcement for Mumbai but most important is that in realty the infrastructure change is made as per Sanghai standards and the investment for the same flows in.
While Sanghai has FSI as high 11 in Mumbai only 4 FSI is available. Experts said to call Mumbai a sister of Sangahi in real terms these issue should be addressed. Girish Nadkarni, COO, investment banking and institutional equity IL&FS, said, that this would boost investment flows mainly into Mumbai’s infrastructure. It is expected that infrastructure of the city would improve.
Anuj Puri, CMD, Jones Lang LaSalle, said that there are many sister cities but what is important is that the investment for infrastructure actually flows in. Puri added that while Sanghai has high FSI of 11 Mumbai has only 4 FSI, so it is important that these issues should be addressed to call the two cities sister city in true sense.
Source: Financial Chronicle
boost investment, Girish Nadkarni, IL&FS, investment banking, Jones Lang LaSalle, Mumbai, Shanghai
