Gujarat International Finance Tec-City, shortly known as GIFT City, is located in the capital of Gujarat and India’s first IFSC center. It has gained considerable fame in the past decade and has emerged as a magnet for foreign investments in India. GIFT City has become a premium technological and financial hub that attracts global corporate giants.
GIFT City is the most preferred destination for top-notch companies across various industries, including finance, IT, consulting, and finance, because of its state-of-the-art infrastructure, multiple tax benefits, and regulatory flexibility.
In this blog, we will discuss the top corporate firms that are nested in GIFT City. 1. TATA Consultancy
TCS, a leading global player in IT services, consulting, and business solutions, recognized the opportunity to expand operations to align its digital transformation and financial services better focus with its initiatives in GIFT City. TCS has invested in cloud computing, AI, and cybersecurity research and development. The firm aims to use GIFT City as an innovative hub in delivering cloud solutions using its technical expertise to fulfill customer requirements globally. With the evolution of GIFT City, TCS is reinforcing its commitment to provide on behalf of India's growing digital economy.
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2. Cognizant
Cognizant, a prominent multinational IT services and consulting service provider, decided to leverage GIFT City to invest in transforming India's Financial Services and Technology sectors. Cognizant delivers digital solutions enabled by Artificial Intelligence, Data Analytics, and Automation. Due to its advanced infrastructure and the access to skilled labor it provides, Cognizant sees GIFT City as an environment conducive to innovation and operational scaling. 3. HCL Technologies
HCL Technologies, a well-known IT service provider and Engineering services company has decided to expand its business operations in GIFT City to further its global delivery capability with next-gen technology solutions for Banking, Financial Services, and Insurance (BFSI) clients. HCL will draw on the dynamic and supportive environment of GIFT City. Access to world-class infrastructure and tax-friendly regimes are factors HCL included in their decision-making to facilitate high-quality and stable operations and outcomes.
4. Infosys
Infosys has started business at GIFT City for BFSI and digital transformation services. With the combination of the regulatory framework and technological advances in GIFT City, the company will be more able to deliver financial technology solutions, including blockchain, AI, and ML. Infosys wants to help India become a global digital powerhouse through its GIFT City vision. Wipro is one of the top IT consulting and business process services firms in the world. The Company has a significant presence at GIFT City. The company mainly works on financial services software development and cybersecurity in GIFT City.
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5. Wipro
Wipro, a leading IT consulting and business process services company, has established a strong presence in GIFT City. The company’s operations in GIFT City primarily focus on financial services, software development, and cybersecurity. Wipro’s expansion is driven by GIFT City’s superior infrastructure and status as an emerging global financial hub, allowing the company to provide innovative solutions to international clients. 6. Deloitte
Deloitte, a leading professional services network worldwide, offers consulting, auditing, and financial advisory services in GIFT City. The facility bolsters Deloitte's ability to cater to domestic and international clientele, especially in financial services and risk. GIFT City’s regulatory gains and tax benefits complement Deloitte’s commitment to excellence. 7. PwC
PwC brings up its operations set-up to GIFT City to cater advisory and consulting services to the global clientele. PwC plans to establish its operations from Gift City after this certificate, PwC said. PwC is important in financial services, compliance, and risk management. The company will use its technology and human resources expertise to expand its presence. The city is ideal for PwC to offer its services, as it is becoming a global hub for finance. 8. Ernst & Young (EY)
EY, an assurance, tax, and advisory services firm that is part of the Big 4, chose GIFT City to expand its consulting and financial services portfolio. By Using GIFT City’s exemplary infrastructure and hassle-free regulations, EY elevates its capability to help multinational companies with digital transformation, risk management, and compliance. The company will use this facility to offer domestic and international customers world-class financial and business advisory services.
9. KPMG
KPMG is one of the big four chartered accountants offering its services in GIFT City for Audit, Tax, and advisory services for Multinational Clients. This city’s business environment helps KPMG innovate its services better. GIFT City, with its location and friendly policies, will help KPMG strengthen its presence and provide the best quality services for its global clients. 10. LIC of India
The Life Insurance Corporation of India (LIC) has furthered its foray into GIFT City to capitalize on the development of a financial services hub. LIC is using the regulatory framework in GIFT City to provide offshore services in finance, insurance, and asset management. The move shows LIC’s intent to offer better services through India’s first IFSC. 11. Muthoot Finance Ltd.
Muthoot Finance is India’s biggest gold loan non-banking finance company (NBFC), operating in GIFT City to provide innovative domestic and international financial services. Muthoot Finance is using GIFT City's tax benefits and regulations to improve its operations and offer more financial solutions. The company’s presence in GIFT City strengthens its presence in financial services. 12. Argusoft India LTD
To strengthen its software solution development capabilities related to fintech, e-commerce, and enterprise platforms, Argusoft India chose GIFT City as its base. The city's digital infrastructure and global connectivity benefit the company. Argusoft's GIFT City presence is due to its focus on cutting-edge solutions. 13. HSBC (Hongkong and Shanghai Banking Corporation)
HSBC, one of the world’s largest banking and financial services institutions, has expanded its operations in GIFT City. The bank uses the GIFT City IFSC framework to provide international banking, asset management, and advisory services. HSBC's move to GIFT City forms part of its overall strategy to reinforce its global presence while assisting the Indian economy.
IBM
IBM is a global technology company that provides IT solutions, cloud services, and AI-based technologies in Gift City. IBM uses GIFT City's smart city infrastructure and regulatory support to innovate and deliver scalable solutions to clients, enhancing GIFT City’s reputation as an innovation and technology hub.
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15. Bank of America
Bank of America, a leading global financial institution, has set up operations in GIFT City to enhance its international financial services. In its overseas banking and investment businesses, the lender is fully using cross-border access from Gift City. Bank of America’s move to GIFT City shows that it is eager to help support the growth of India’s economic sector. 16. Standard Chartered
Standard Chartered, a prominent global banking institution, operates in GIFT City to offer various banking and financial services. Leveraging GIFT City’s world-class infrastructure and regulatory framework, the bank strengthens its capacity to provide its clients with trade finance, wealth management, and corporate banking services. 17. Oracle
Oracle, a leading global provider of cloud applications and platform services, chose GIFT City to enhance its cloud technology and digital transformation services. GIFT City’s high-speed connectivity and advanced digital infrastructure enable Oracle to deliver innovative solutions to enterprises and government sectors. 18. Google
Google, a technology powerhouse, has set up operations in GIFT City to focus on cloud computing, AI solutions, and digital innovation. GIFT City’s advanced technology ecosystem and favorable policies make it an attractive destination for Google to scale its operations and deliver high-quality services to its global clientele.
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Bottom Line
In summary, GIFT City attracts high-ranking corporate companies globally due to its world-class infrastructure and regulatory and tax benefits. The presence of IT companies, financiers, and consultancies adds to its status as a global economic and technology hub.
GIFT City is likely to become the country’s most favored business destination as more companies come forward to explore the benefits of setting up shop there, which will, in turn, help fuel growth in India's economy.
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