After a long wait, Gujarat International Finance Tec-city (GIFT) finally took the first significant step towards becoming a financial hub. Five firms, including Tata Communications, World Trade Centre and State Bank of India (SBI), were on Wednesday handed over letters of allotment to start operations here.
With the investment of Rs.600 crore, World Trade Centre Association (WTCA) will develop Gujarat’s first WTC for financial and allied services which will be operational at GIFT City over the next three years. The WTC will be built by Singapore-based private equity firm Viridian Group.
SBI will set up a commercial tower while Tata Communications Ltd is setting up India’s largest green data centre which will provide services including cloud services, colocation, managed hosting and other managed services to customers in GIFT and outside at competitive rates. Chief minister Narendra Modi interacted with about 50 top executives from almost all leading banks, insurance companies and financial firms at the event.
Announced during the Vibrant Gujarat summit in 2007, the GIFT city project was under criticism for not being able to pull in investors. State government officials cited the global financial crisis in 2008 and subsequent aftershocks for lack of investor interest.
With the investment of Rs.600 crore, World Trade Centre Association (WTCA) will develop Gujarat’s first WTC for financial and allied services which will be operational at GIFT City over the next three years. The WTC will be built by Singapore-based private equity firm Viridian Group.
SBI will set up a commercial tower while Tata Communications Ltd is setting up India’s largest green data centre which will provide services including cloud services, colocation, managed hosting and other managed services to customers in GIFT and outside at competitive rates. Chief minister Narendra Modi interacted with about 50 top executives from almost all leading banks, insurance companies and financial firms at the event.
Announced during the Vibrant Gujarat summit in 2007, the GIFT city project was under criticism for not being able to pull in investors. State government officials cited the global financial crisis in 2008 and subsequent aftershocks for lack of investor interest.
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