US President Barack Obama and India's Prime Minister Narendra Modi have signed an agreement which will see the construction of three smart cities in the states of Allahabad, Ajmer and Vishakhapatnam.

According to India's Economic Times newspaper, the United States Trade and Development Agency (USTDA) will contribute funds for feasibility studies, pilots and study tours. In a report, the Economic Times revealed that Cisco, IBM, 3M, EMC, GE, Honeywell, KPMG, Otis, Timken and Louis Berger had formed a consortium to develop the smart cities in what is seen as part of US moves into India's infrastructure sector.

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