A GIFT horse gets some belated attention

Information technology was one of the projects once showcased by then Gujarat Chief Minister and now India’s Prime Minister Narendra Modi as the first project of smart city and a hub for financial and technical services.

But despite efforts by the CM through several Vibrant Gujarat Summits it had failed to get the kind of attention that it was created for.

But now the good news for the state government is that several Dubai-based organisations have expressed their eagerness to develop the Gujarat International Finance Tech City (GIFT City) project situated near Gandhinagar. Built with the intention of catering to large financial houses by offering them world-class infrastructure and facilities.

It was estimated and touted to become the financial-technical hub of the country. But it had failed to even create a whimper.

But the recent visit by state Finance Minister Saurabh Patel to Dubai recently has aroused some hope in the government circles. Patel was in Dubai, primarily to promote the state government backed GIFT City project.

Officials accompanying Patel during the visit said that they met authorities of Dubai International Finance Centre (DIFC), Dubai Multi Commodity Centre (DMCC) and Dubai Metro. “They have expressed their interest to be a partner in the development of the GIFT City as a global financial hub,’’ said the official,  told Deccan Herald.

He said that these organisations have also expressed their keen interest to enter into MoU in the development and promotion of GIFT. These institutions have shown interest and have agreed to share their experience on how DIFC and the DMCC have developed and similar steps could be adopted and replicated for the development of GIFT.

The official went on to add that the finance minister also held detailed discussion with the Gold Souk authorities and DMCC in Dubai for enhancing diamond business in Surat.

He added that Gold Souk and DMCC have agreed to form alliance with the state government to help it establish diamond business in Surat.