Corespondent, Gandhinagar: Gujarat International Finance Tec-City (GIFT City), one of the dream projects of the then Chief Minister (now Prime Minister) Narendra Modi, a central business district and country’s first international financial hub in making near Gandhinagar, is attracting interest from domestic and global IT and ITeS companies.

More than 500 employees of some of the leading institutions from the IT/ITeS sectors that have already begun operations in GIFT domestic zone as well as in GIFT’s Special Economic Zone (SEZ) area, are working in it.

The International Financial Services Center (IFSC) of GIFT which has the IFSC Banking units of altogether six reputed banks has already seen a significant jump in business, with total business transactions crossing the US$ 475 million mark,

The IT and ITeS companies with its offices functional in the GIFT City include MNC players like Oracle; Maxim Integrated, a US$ 2 billion plus US-based integrated solutions company and Befree, a leading book-keeping company from Australia. Leading E-commerce player Infibeam has acquired space in GIFT City and is in advance stages of commencing its corporate office and overall back office operations. (n)Code Solutions – a subsidiary of GNFC has set up a world class PKI facility to offer digital signature certificate & a range of PKI-based solutions at GIFT City. Companies like QX Corporate, Iship Design and Accvell Technologies have established their presence in the SEZ Area of GIFT City for export of various IT enabled services, a company statement today said.

Group Vice President, Development, Oracle India Mr. S. Shenoy, said “Oracle is extremely proud to be part of India’s first Smart Global Financial and IT hub. Oracle was among the first organizations to invest in the GIFT city. We set up our 10th development center here where technology professionals are developing cutting-edge cloud solutions. We received complete support and co-operation from the authorities. Easy access to world class infrastructure and facilities will make this unit one of our finest facilities in India. Initiatives like GIFT city will go a long way in fortifying India’s image as an opportune business center.”

Mr. Gopal Krishna, Managing Director, Maxim Integrated India said “We are able to build a highly collaborative & operationally efficient team at our facility in GIFT City. Talent base of quality IT/ITeS professionals has grown significantly in Gujarat”.

Speaking about the interest of IT/ITeS firms to set up base in GIFT City, Mr. Ajay Pandey, MD & Group CEO, GIFT City said, “GIFT City offers a world-class smart city with a walk to work facility to IT/ITeS companies and all other required infrastructure support. Cost of operations for Institutions is very competitive compared to other major IT hubs in India. Also, the best-in-class IT infrastructure including one of India’s largest Tier IV data center, high quality cloud services as well as sophisticated managed applications and network management services make GIFT City an ideal choice for large IT/ITeS players. We are in receipt of interest from reputed companies for setting up their large operations in GIFT City and many of them are expected to commence their operations soon.”

The Government of Gujarat has also announced incentives under its IT/ITeS policy including construction subsidy, capital subsidy, reimbursement on EPF contribution, rental subsidy, incentives on power tariff and electricity duty etc.

Part of GIFT City is notified as multi-service SEZ with International Financial Service Centre (IFSC) status which is catering to India’s large financial services potential by offering global firms, world-class infrastructure and facilities. It is attracting the top talent in the country by providing the finest quality of life. It is estimated that GIFT would provide 5 lakh direct and an equal number of indirect jobs which would require 62 million square feet of commercial, residential & social facilities with total investment of about Rs. 78000 crore over next 10 years.

DeshGujarat

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