Gujarat International Finance Tech-City, Gandhinagar,gujaratGujarat International Finance Tec-City Company Limited (GIFTCL) and Infrastructure Leasing and Financial Services Limited IL&FS signed a Memorandum of Understanding (MoU) with Cisco for the Gujarat International Finance Tec-City (GIFT) project in presence of Gujarat Chief Minister Narendra Modi.
The capital of Gujarat has emerged as one of the fastest growing regions in the country. In addition to housing one of the largest manufacturing bases in India, Gujarat also accounts for a disproportionately large share of the investor and entrepreneurial population in the country. Recognizing the potential of the state as a centre for the financial services industry, the government of Gujarat formulated GIFT as a mega project to realize this vision. Thus, land (initially 550 acre) in Administrative Capital of the State has been allotted for the development of a Central Finance and Business District (CFBD).GIFT is conceptualized as a global financial and IT services hub.
GIFT is developed as India's first major supertall CBD project that is designed to be the focal point of India's booming financial services market-comprehensive infrastructure, power, verticalized office space, and a well designed, planned and expandable urban form. Its strong proximity and infrastructure connectivity with Mumbai ensures that mutually beneficial development occurs between the two metros.
GIFT is designed as an environmentally friendly development that will have the lowest per capital energy consumption of any Indian metro. The project itself will have a green area covering 65% of the total land, in large part due to the number of skyscrapers.In addition, the area long the Sabarmati River's banks will be developed into a riverfront recreational area, complementing the riverfront developments planned for Ahmedabad. The project will also boast a museum, large conference center and gardens on the man made Fortune Island, where Diamond Tower is located. In addition to expressway linkages, GIFT will also boast underground arterial road, as well as MRTS/LRTS/BRTS connections and abundant parking.