Is GIFT City the Key to India's Global Fintech Aspirations?
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Synopsis
N.R. Narayana Murthy's recent visit to GIFT City highlights its rapid transformation into a global fintech powerhouse. His insights and recommendations for enhancing innovation and collaboration between academia and industry could significantly impact India's financial technology landscape. Discover how GIFT City is positioning itself as a leading destination for fintech innovation.
Key Takeaways
- N.R. Narayana Murthy visited GIFT City, praising its infrastructure.
- GIFT City is emerging as a global fintech hub.
- Emphasis on collaboration between academia and industry.
- Infosys has launched a center catering to global BFSI clients.
- GIFT City improved its global rankings significantly.
Ahmedabad, June 27 (NationPress) The founder of Infosys, N.R. Narayana Murthy, visited the Gujarat International Finance Tec-City (GIFT City) on Friday, where he commended the exceptional development and top-notch infrastructure that are establishing GIFT City as a global center for financial and technology services, particularly in fintech innovation.
Murthy expressed admiration for the increasing presence of international firms and the rapid pace of development. He emphasized that such initiatives are crucial for transforming GIFT City into a premier hub for financial technology and innovation.
During his visit, he provided recommendations to enhance the ecosystem, stressing the importance of nurturing innovation and fostering stronger collaborations between academia and industry.
Murthy conducted a comprehensive meeting with GIFT City Chairman Dr. Hasmukh Adhia, Managing Director and Group CEO Tapan Ray, and International Financial Services Centres Authority (IFSCA) Chairman K. Rajaraman.
They briefed him on various initiatives and the ongoing advancements at GIFT City.
Additionally, Murthy engaged with students from Jamnabai Narsee School, Deakin University, and the University of Wollongong during his visit, encouraging them to dream big, work diligently, and strive for excellence in their careers, thereby inspiring the young minds present at the event.
Recently, Infosys, the company established by Murthy, inaugurated a new development center at GIFT City.
Launched on June 7, this facility is designed to accommodate over 1,000 employees operating in a hybrid model.
This center will act as a vital TechFin hub for global BFSI clients, providing digital solutions in sectors such as banking, capital markets, trade finance, cards and payments, and risk and compliance management.
Earlier this year, GIFT City reported significant progress in the latest Global Financial Centres Index (GFCI 37), achieving improvements across various categories.
It notably secured the top spot in the ‘Reputational Advantage’ category.
GIFT City also ascended five positions in the FinTech ranking, moving from 45th to 40th place, and enhanced its overall global ranking from 52nd to 46th.
Point of View
Narayana Murthy's visit to GIFT City underscores the significant strides India is making in the fintech sector. His emphasis on collaboration and innovation reflects a broader trend in leveraging technology for economic growth. This aligns with our national vision of establishing India as a global leader in financial technology, showcasing our commitment to progress and development.
NationPress
27/06/2025
Frequently Asked Questions
What is GIFT City?
GIFT City stands for Gujarat International Finance Tec-City, a global financial services hub located in Gujarat, India, designed to cater to international financial and technology firms.
Who is N.R. Narayana Murthy?
N.R. Narayana Murthy is the co-founder of Infosys, a multinational corporation that provides business consulting, information technology, and outsourcing services.
Why is GIFT City important for fintech?
GIFT City is crucial for fintech as it provides world-class infrastructure and a conducive ecosystem for financial technology companies, fostering innovation and attracting global investments.
What initiatives are being taken at GIFT City?
Various initiatives at GIFT City include enhancing infrastructure, fostering partnerships between academia and industry, and promoting innovation in financial services.
How is GIFT City ranked globally?
GIFT City has made significant improvements in global rankings, recently moving up in the Global Financial Centres Index and securing top positions in various categories.
