Infosys, Wipro to start techfin centres at GIFT City

Ahmedabad: Tech giants Infosys and Wipro are gearing to start their techfin hubs in Gujarat International Finance Tec-City (GIFT City) for which they have finalized commercial space at the GIFT Special Economic Zone (SEZ). According to reliable sources, Infosys recently submitted an application to set up a techfin centre at GIFT International Financial Services Centre (IFSC) and the approval is expected to be granted soon.

According to sources at GIFT City, Infosys was in talks with the authorities to set up a centre there since the Vibrant Gujarat Summit in Jan this year.

"Infosys will set up a techfin centre to provide technological solutions to financial services. Infosys recently applied to set up a centre in GIFT City and will be granted permission soon. This will bring more IT companies to GIFT City. At IFSC, as of now, more than 675 firms have registered," a source at GIFT City said.

Infosys and Wipro both have leased space at Pragya II Tower of Savvy Group at GIFT SEZ. Jaxay Shah, CMD, Savvy Group said, "With the arrival of Infosys and Wipro, GIFT City now has the presence of most of the Indian and global tech giants. The latest entrants will be the first big companies to start their techfin centres here. Earlier, we saw the arrival of GCC (global capability centres) and global in- house centres (GICs) at GIFT City, which generated significant employment."

The arrival of techfin centres is expected to create around 50,000 jobs at GIFT City in the next five years. The Infosys centre, spread over 1.05 lakh sq feet, will employ around 500 people initially while Wipro has finalized around 25,000 sq feet space and will employ around 150 people initially, according to the sources.

Sources said that with IFSCA regulations in place, several companies are exploring setting up their base at GIFT City. "IFSC has seen increased interest from international banks, insurance companies, fintech firms and ship and aircraft leasing companies in the last few years. In the recent past, it has given approval to smaller techfin firms, and Infosys and Wipro will help establish a proper ecosystem for them," the source at GIFT City said.

Source : TOI