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The Chief Minister of Gujarat inaugurated the GIFT International Fintech Institute (IFI) and GIFT International Fintech Innovation Hub (IFIH) at Gujarat International Finance Tec-City (GIFT City). Supported by the Asian Development Bank (ADB), these initiatives aim to position GIFT City as a global leader in financial technology. The IFI will offer cutting-edge training programmes from January 2025, designed to upskill professionals in fintech, AI, and more, while the IFIH will foster start-ups through mentorship and resources. These ventures underscore India's commitment to becoming a fintech powerhouse.
The Chief Minister of Gujarat inaugurated the GIFT International Fintech Institute (GIFT IFI) and the GIFT International Fintech Innovation Hub (GIFT IFIH) at GIFT City, signifying a major step in India's mission to lead the global fintech space. Backed by the Asian Development Bank (ADB), these initiatives aim to reshape the fintech industry by encouraging innovation, nurturing talent, and strengthening GIFT City's reputation as a leading international fintech centre. Advertisement
The GIFT IFI, managed by a consortium including Ahmedabad University, IIT Gandhinagar, and the University of California, San Diego, is set to launch its programmes in January 2025. The institute will provide courses such as Fintech Foundations and AI & ML in Fintech, equipping professionals with essential skills for the evolving financial landscape.
Meanwhile, the GIFT IFIH, spearheaded by Plug and Play, a global accelerator platform, will assist start-ups through mentorship, access to networks, and essential resources. Ten start-ups from nations including the United States, UAE, Singapore, and India have already joined its inaugural batch.
Tapan Ray, MD and Group CEO of GIFT City, stated that the new institutes highlight GIFT City's commitment to creating a globally connected and resilient fintech ecosystem. Professor Pankaj Chandra of Ahmedabad University emphasised the initiative's role in integrating advanced research and practical expertise to address real-world challenges.
ADB's Deputy Country Director, Ms Aarti Mehra, expressed pride in supporting GIFT City's evolution into a global fintech and innovation hub, contributing to job creation and inclusive financial solutions.
The GIFT IFI and IFIH aim to bridge the gap between academia and industry by delivering industry-aligned training, promoting research, and fostering start-ups, with a focus on empowering women entrepreneurs. These hubs are expected to drive employment, productivity, and innovation, positioning GIFT City as a beacon of financial and technological excellence.
GIFT City, India's first operational smart city and maiden International Financial Services Centre (IFSC), is a global financial and IT services hub, a first of its kind in India, designed to be at or above par with globally benchmarked business districts. As a leading Central Business District (CBD), GIFT City offers significant advantages such as reduced operational costs, favourable tax policies, and a vibrant community, making it the top choice for global and domestic companies in BFSI, IT/ITeS, fintech, international education, and other service sectors.
A 'Project of National Importance', GIFT City encompasses office spaces, residential areas, school, hospital, hotels, clubs, retail outlets, and recreational facilities, creating a truly 'walk-to-work' environment. Pioneering innovations and sustainable solutions implemented in GIFT City, such as the District Cooling System, Automated Waste Collection System, and Utility Tunnel, have set new standards in urban development.
Overall, the launch of the GIFT IFI and IFIH underscores India's ambition to lead in financial technology while addressing industry challenges through education, innovation, and collaboration. With state-of-the-art infrastructure and a regulatory framework conducive to growth, GIFT City is emerging as a global hub for fintech, education, and business innovation. These initiatives not only aim to develop a highly skilled workforce but also foster cutting-edge solutions, strengthening India's position in the global fintech landscape.
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