Infosys and Wipro will be among the first Indian software companies to start their fintech hubs in Gujarat International Finance Tec-City (GIFT City), which is counted among Prime Minister Narendra Modi’s dream projects.
Both companies have taken large office spaces within the International Financial Services Centre (IFSC) to set up their operations under the TechFin framework, through which they will focus on services aligned with financial technology catering to their global clients.
The Prime Minister reviewed this development, along with other key issues, during his visit to GIFT City on Monday.
The GIFT City TechFin framework is part of the broader efforts by India’s International Financial Services Centres Authority (IFSCA) to foster innovation in financial services.
Both Infosys and Wipro have leased offices in commercial tower Pragya II for 15 years from realty developer Savvy Group.
The companies will be starting their fit out work soon and are expected to commence their operations from these offices in the next few months. The initial commitment from Infosys and Wipro is for 105,000 sq ft and 26,400 sq ft, respectively.
“With software technology giants such as Infosys and Wipro taking the lead, we expect at least 30,000 to 40,000 jobs to be created in GIFT City in the category of financial technology soon,” Savvy Group chairman and managing director Jaxay Shah told ET.
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