Abstract:
Globalization which relates to the international economic integration and strength of real-sector and financial sector linkages among national economies, is sweeping across nations. As a result, the total Indian diasporas was estimated to be 25 million in 2005. India has also been a victim of 'brain drain' to developed countries like USA and UK for decades. Today, India is the fourth largest economy at 9% growth rate and is being viewed as a key business destination primarily for its abundant, cost effective and talented workforce. But due to ill governance, this momentum of the growth is not being managed properly. Further, India has not been able to realize its vast potential as most of the cities in India lack the required infrastructure, or International Financial Services is not in proper condition.
It is therefore vital for the financial system, particularly the domestic financial institutions, to be resilient and efficient if India has to ensure that its financial sector remains effective and responsive in the face of a more globalized, liberalized and a more complex domestic economy. Existing cities do not match up to the expectations of skilled people in respect of working culture and standard of living. Developing the existing cities or satellite towns around old cities in India may not be desirable due to following limitations:
�â� �¢ Growth centers are thriven
�â� �¢ Difficult to replicate the economic opportunity of old cities
�â� �¢ Will not be able to take the complete urbanization pressure
The aim of this dissertation is to provide an overview of International financial tech city and to study factors affecting for its development. As a case study, a land use plan for new International financial tech city in Vizag shall be proposed, which will be India's hub of e-commerce supported by sound financial management, robust infrastructure, state-of-the-art communication, skilled manpower and traditional entrepreneurial spirit. From data analysis to site selection and from site analysis to final proposal all work has been carried out with the help of GIS and Remote Sensing tools.
