GIFT City Attracts Global IT/ITeS Firms
World class Infrastructure development at GIFT City coupled with Gujarat Government’s favorable IT/ITeS policy generating interest from IT/ITeS firms
July 18, 2016: India’s only global Financial and IT hub, Gujarat International Finance Tec-City (GIFT City), is attracting interest from domestic and global IT & ITeS companies to set up operations there. More than 500 employees are working in some of the leading institutions that have already begun operations in GIFT domestic zone as well as in GIFT’s Special Economic Zone (SEZ) area.
The companies functioning out of 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 advanced 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.
Speaking about their presence in GIFT City, Mr. S. Shenoy, Group Vice President, Development, Oracle India 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 centre, 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 its IT/ITeS policy which offers significant incentives to the IT/ITeS companies. Few of the incentives under the IT/ITeS policy include construction subsidy, capital subsidy, reimbursement on EPF contribution, rental subsidy, incentives on power tariff and electricity duty etc.