Gujarat is taking the lead in making India a knowledge-based economy. Chief Minister Bhupendra Patel highlighted this when he inaugurated Cognizant India’s Tech-Fin Delivery Centre in GIFT City on Wednesday. The event reflected the state’s commitment to promoting AI-based industries, as the government aims to boost the tech sector in Gujarat.
During his speech, Patel credited Prime Minister Narendra Modi’s visionary leadership for India’s rapid growth towards being the third-largest economy in the world. He noted that Gujarat is creating a supportive environment for emerging technologies. The Chief Minister pointed out that the success of Operation Sindhur owes much to modern technology. He explained how the Digital India mission has transformed technology in the country, making it accessible to everyone.
Cognizant’s arrival in Gujarat is significant. Patel emphasized that the state has the most affordable intellectual manpower in the world. The government is focusing on critical technologies like AI and semiconductors to enhance its tech landscape. Three semiconductor plants are set to open in Gujarat, which will further strengthen the state’s AI ecosystem.
The establishment of the AI Centre of Excellence in GIFT City aims to bring together experts, businesses, and startups to develop new solutions. The Global Capability Centre Policy announced by the state will encourage major companies to set up operations in Gujarat. Patel remarked that GIFT City is positioning itself as a global leader, providing facilities for many international companies.
He highlighted that GIFT City is a hub for talent, technology, and innovation. As a smart city and an International Financial Services Centre (IFSC), GIFT City has made remarkable strides, ranking high in the Global Financial Centres Index. Its growth showcases India’s increasing influence in the global financial landscape.
The Managing Director of GIFT City stated that the city is committed to creating a conducive environment for business. With its strong infrastructure and regulatory framework, GIFT City is set to become a leading international financial hub. The city currently employs around 20,000 people in banking, finance, and IT services.
In recent developments, GIFT City has expanded its area significantly, making room for more companies and enhancing its capabilities. The extension will allow for the construction of new residential units and social infrastructure, improving the living conditions for employees and their families.
Currently, GIFT City is home to around 200 companies, including international exchanges and financial service providers. The city is also planning to develop recreational facilities, schools, and hospitals to create a vibrant community. As more residential units become available, it will attract a larger population, shifting the balance from an office-centric environment to a more integrated living space.
GIFT City’s journey reflects Gujarat’s ambitions to lead in technology and finance. With the support of the state government and the commitment of companies like Cognizant, GIFT City is poised for a bright future. The launch of the Tech-Fin Delivery Centre is just the beginning of a new chapter in Gujarat’s growth story, aiming to make it a key player in the global economy.
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