Vibrant Gujarat: Transworld, Wipro, Accenture among new GIFT City investors

Wipro, Accenture and UAE-based Transworld Group are among the 10-odd new investors who have proposed to set up base at Gift City.

As per the investment proposals received during the ongoing Vibrant Gujarat summit, Wipro has proposed to start tech-fin operations at Gift City shortly. “They have to make a formal application. It is largely a B2B operation,” said Tapan Ray, Managing Director of Gift City Company Ltd. Apart from Wipro, Accenture too has proposed to set up an office at Gift City.

Transworld Group has signed a ₹2,000 crore MoU for setting up a ship leasing and aircraft leasing activities in Gift IFSC, while StoneX Group will open a bullion trading desk in GIFT city, Ray added.

Meanwhile, the Abu Dhabi Investment Authority has become the first sovereign fund to be set up in Gift City and Mizuho Bank has become the second Japanese bank to set up a IFSC Banking Unit at Gift IFSC. 

APEX Group has set up their office in Gift City as a fund administrator and fund accounting service provider. The Group plans to employ 1,000 persons over a period of three years. Ray also pointed out that the State Bank of India (SBI) has got the occupancy certificate for its building and is expected to shift their operations to GIFT City from Ahmedabad. “LIC tower is also ready and will start some operations,” he added.

On Wednesday, Prime Minister Narendra Modi chaired a closed-door meeting of Global CEOs at GIFT City. The participants included Sanjay Gupta, India Head, Google, Mukesh Ambani, CMD, Reliance Industries, Edward Knight, Executive vice-chairman NASDAQ, Chirstopher Heusler, President, S&P Global, Michael Syn, President, SGX Group, Peter Hughes, CEO, Apex Group Ltd, Venkat Neelakantan, Global Head-CRES Capgemini, Manraj Sekhon, Chief Investment Officer, Templeton Global Investments, Gaurav Sharma, Head-IBM India Labs, among others.

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