GIFT City attracts global IT-ITeS firms

Gujarat International Finance Tec-City (GIFT City), India's only global financial and IT hub, is attracting interest from global and domestic information technology companies to set up operations here.
"World class infrastructure development at GIFT City coupled with Gujarat Government's favorable IT/ITes (information technology and Information technology enabled Services) policy generating interest from such firms," GIFT City said in a statement.
The companies functioning out of GIFT City include Oracle, US-based integrated solutions firm Maxim Integrated and Befree a leading book-keeping company from Australia. These three firms have already begun operations.
Besides, e-commerce player Infibeam has acquired space in the city and is in advance stages of commencing its corporate office and overall back office operations.

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.
"GIFT City offers a world-class smart city with a walk to work facility to IT and ITeS companies and all other required infrastructure support. Cost of operations for Institutions is very competitive compared to other major IT hubs in India.
"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," GIFT City MD and Group CEO Ajay Pandey said.

Gujarat government has also announced its IT/ITeS policy which offers significant incentives to these companies. Some of the incentives under the policy include subsidy related to construction, capital and rental; reimbursement on EPF contribution;incentives on power tariff and electricity duty.