Gujarat's GIFT City: The New Face of Global Fintech Innovation

Gujarat Chief Minister Bhupendra Patel inaugurated the GIFT International Fintech Institute and its Innovation Hub, highlighting a strategic effort to promote startups in GIFT City. This initiative complements India's fintech revolution, led by PM Modi, positioning Gujarat as a global fintech leader by 2029.

Gujarat Chief Minister Bhupendra Patel officially opened the GIFT International Fintech Institute and the Innovation Hub, setting a precedent for nurturing startups within GIFT City. These ventures are envisioned to create a robust startup ecosystem in Gujarat, aligning with Chief Minister Patel's aspirations.

Over a decade under the leadership of Prime Minister Narendra Modi, India has witnessed a fintech revolution, characterized by extensive digitization of financial transactions. With affordable data and innovative banking services, India is positioning itself as a frontrunner in the global fintech arena.

Emphasizing the importance of this development, the Chief Minister celebrated GIFT City as a manifestation of PM Modi's vision for India as a global fintech hub. GIFT City hosts the country's only International Financial Services Centre and Bullion Exchange. The newly launched Fintech Innovation Hub is anticipated to fulfill Modi's vision of 'IT' — India Tomorrow.

This Innovation Hub is expected to unlock new prospects for young entrepreneurs and pave the way for employment opportunities among young professionals. With the infusion of innovative talent, Gujarat aims to lead the global fintech revolution by 2029.

GIFT City Chairman Hasmukh Adhia, during his address, highlighted the significance of the innovation hub in delivering short-term fintech training and entrepreneurial support. Operational space has been designated in Tower 2 of GIFT City.

Adhia cited early mentoring of startups as a pivotal component of the hub's quick implementation, a feat accomplished with state support. GIFT City MD and CEO Tapan Ray articulated the Innovation Hub's role, alongside speeches from State Science and Technology Department's Principal Secretary Mona Khandhar.

The event also saw insights from Jojo Flores, co-founder at Plug and Play, and key academic figures like Pankaj Chandra and Rajat Moona, with eminent leaders in attendance from the fintech domain.

(With inputs from agencies.)