Schneider Electric, a provider of energy solutions, is looking at Prime Minister Narendra Modi's plan to develop 100 new smart cities as a potential market for its products.

"We are looking at providing smart city solutions in the proposed cities. We have a range of power products --transformers, switchgears, primary and secondary equipment -- for the smart cities," Prakash Chandraker, Vice President and Managing Director (Infrastructure Business) of Schneider Electric said.

"These smart cities are a great business proposition for us," he said, declining to provide details of any proposed investments.